Dear Friends,

Hope you all are enjoying vacation of the year 2022. The vacation had taken a break in the year 2020 and 2021. The trying times of pandemic have tested our endurance. Many professional brothers and sisters suffered during this period. So, we will move on and keep reminding our selves not to lower our guard against COVID -19 and adhere to the protocol wherever deemed necessary. The Hon’ble Supreme Court in the case of Union of India vs. Ashish Agarwal (Civil Appeal NO. 3005 of 2022) dated 4th May, 2022 accepted, in principle, the decision taken by the Hon’ble Allahabad High Court, Delhi High Court, Rajasthan High Court and Bombay High Court. However, it has invoked the provisions of Article 142 of the Constitution of India to hold that all the notices issued after 01/04/2021 under section 148(1) of Income tax Act, 1961( the Act) will be treated as the notices issued under the newly incorporated section 148A(b) of the Act. The is an unprecedented thing to happen. Thus, I requested my friend Dharan Gandhi to give sequel to his article published in the preceding issue of AIFTP Journal. Similarly, I requested Mr. Aditya Ajgoankar to help us understand the provisions of Article 142 of the Constitution of India vis- à-vis tax provisions and the above-mentioned order of the Apex Court. I am thankful to both for accepting my request. Apart from this, as per the Journal committees endeavor to encourage young professionals to write articles and participate in the academic activity of the AIFTP in the present issued two young chartered Accountants have contributed to our Journal. CA Ashita Shah on provision applicable to income tax returns to be filed by 31st July, 2022 and CA Khyati Vasani on computation of Income under the head Income from other sources. Both of them have done fairly good job. I thank them for their contribution.

As mentioned in the beginning we have just come out of the mayhem of a pandemic and now we are struck by Russian’s invasion of Ukkraine. I am reminded of the words of Vilayat Khan in ‘Awakening: a sufi exprence’

– “Behind this shifting panorama we may gradually begin to sense the larger emotions of the human drama: Pain, cruelty, injustice, greed, terror, heroism, love, disenchantment. From yet another perspective, people seem inescapably conditioned, caught in the cogs of the wheels of a gigantic social power system which we call civilization. Or, if we tilt the consciousness yet another way, the mass of humanity appears as ripples in an ever-recurring flow of ongoing life. By shifting perspectives, the way, a child turns kaliedoscope, we gradually see that all these perspectives are merely the veils over a concealed dimension of reality lying just beyond ordinary cognition”.

I thank all the professionals who spared their valuable time to contribute to this issue of the AIFTP Journal. Rejuvenate yourself well an aurdious tax season is about to set-in as soon as you returns from your vacation.

K. Gopal,


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