Workshop on Anti Abuse Provisions under the Income Tax Act and the interplay with Benami Transactions Act



Chairman : Ashok Mehta
Vice-Chairman : Abhitan Mehta
Convenors : Dinesh Poddar, Neelam Jadhav, Dharan Gandhi
Advisor : K. Gopal

Need for the Program

The Years 2016 & 2017 have been very challenging for the tax professionals. The changes brought about by the Government have far reaching impact and is likely to cause unintended harassment to taxpayers and lot many challenges to a tax professional.

It is important that the tax professional keeps himself updated with the finer points of the draconian provisions listed below.

• The GAAR provisions are applicable from A.Y. 2017-18. It is important to understand the impact of these provisions as to how it would impact us and its interplay with Specific Anti Avoidance Provisions (SAAR), which are already in the Act for years now.

• The amendments made to the Benami Laws by Benami Transactions (Amendment) Act, 2016 would also affect the assessments under the Income-tax Act. The additions under section 68 and 69 besides being taxed at higher rate under 115BBE can also be subjected to the rigours of Benami Law and could lead to prosecution and confiscation of the assets.

• The penalty sections have changed from 1-4-2017 (A.Y. 2017-18) introducing new concepts like “Under Reporting of Income” and “Misreporting of Income” in place of the earlier concepts of “Concealment of income” and “Furnishing of inaccurate particulars of income.” The settled jurisprudence will have to be now seen in light of the new concepts and hence challenges lie ahead for a tax professional there also. Introduction of new section 56(2)(x) from A.Y. 2017-18 is the reintroduction of Gift-tax Act with greater leverage to tax on values which are estimations.

With a view to have a thorough insight on the above developments of law, the Direct Tax Committee, has organised a workshop on the above provisions. The focus of the workshop will be on practical aspects of the matter to be dealt with in Case Studies approach. Senior eminent tax professionals will share their views on the subject.

Who should attend

Tax Professionals, Chartered Accountants, Lawyers, Students and Accounting Professionals.

Relevant details of the workshop are as under:

Day & Date


Saturday, 14th April, 2018

Time : 9.30 am to 6.00 pm
Venue : M. C. Ghia Hall, Rampart Row, Kalaghoda, Fort, Mumbai-400 001


Topics Speakers
Tax Planning vs. Tax Evasion – SAAR & GAAR CA N. C. Hegde
Anti-Abuse Sections in Focus - 68, 69 (entire series) & Benami Law (covering consequences w.r.t. bogus companies, shell companies, bogus directors, bogus shareholders etc.) CA Jagdish Punjabi
Penalties under Income-tax Act - A Paradigm Shift  CA Bhadresh Doshi
Prosecution under Income tax Act – Provisions and Remedies Dr. K. Shivaram, Senior Advocate Mr. Rahul Hakani, Advocate
Re-introduction of Gift Tax – Sec. 56(2)(x) & Interplay of Sec. 50C and 50CA CA Yogesh Thar


Fees Members : ₹ 1,800/- + (GST @ 18%) = ₹ 2,124/-
Non-Members : ₹ 2,500/- + (GST @ 18%) = ₹ 2,950/-
Students : ₹ 1,000/- + (GST @ 18%) = ₹ 1,180/-  


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Event Properties

Event date: 14-Apr-2018 9:30 am
Event End Date: 14-Apr-2018 6:00 pm
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