With the beginning of new Financial Year 2023-24, I wish our tax professionals and Assessees a profitable year ahead and boundless achievements. Despite facing adversity and challenges posed by global instability, our country has achieved remarkable success in growth, production and output in last Financial Year. India has also shown the world outstanding leadership and resilience. Professionals like Advocates, Chartered Accountants, Company Secretaries have played and will play a big role in the success story.

Looking forward with the new financial year, AIFTP Journal is undergoing a facelift. We have added new features to the journal considering the suggestions from the readers and seniors. Hope the same shall appeal to our esteem readers.

The Finance Bill 2023 received presidential assent on 31/3/2023, accordingly Finance Act 2023 is made applicable for the Financial year 2023-24. The Bill was introduced in Lok Sabha on 24th March, 2023 wherein 127 amendments relating to Income Tax Act were made. Some amendments are clarificatory in nature, however, understanding of the same is necessary to avoid future controversy and uncertainty.

The Hon’ble Supreme Court recently has dealt with some very important issues related to the Income tax Act and rendered its verdict. It will be interesting to read these decision, as the interpretation enunciated in these decisions are having far reaching impact. As professionals it is utmost necessary for us to analysis these decisions and even understand them from various angles. Hence, considering the interest of readers/ professionals we have included a new column in the journal “With Due Respect No Contempt” wherein the ld. author shall analysis the Supreme Court decisions on all aspects and also provide his expert comments/views.

Further, keeping in mind the recent developments in the areas of Succession planning, PMLA, Black Money Act, Benami Law etc, we have secured space for these topics on regular basis in our journal.

Information is floating all over. By the time you decide on a proposition on law you will find, a new decision or amendment or a circular coming in place contrary to your thought process. Being the need of the hour, AIFTP journal will help in bridging the gap between the information and knowledge and this can only be achieved through the writings of the seniors and learned professionals. Professionals need to express their thoughts and views to enlighten the upcoming professionals and students. We strive to provide our readers with wealth of knowledge through our journal.

We have embarked on our journey in a new avatar and we continue to stand by with our unwavering principle. As an Editor I sincerely endeavor to make the journal more interesting to our esteem readers.

I like to express my gratitude to our President Shri Pankaj Ghiya, Dr. K. Shivaram, Senior Advocate (Past President), Shri K. Gopal, Advocate and Shri Mitesh Kotecha, CA for their support and guidance.


Editorial Board,