MOHIT GUPTA

Mr. Mohit Gupta is a Fellow Member of the Institute of Chartered Accountants of India, a commerce graduate from prestigious Ramjas College, Delhi University and an alumni of St. Xavier’s School, New Delhi. He is practicing as a Chartered Accountant for more than 15 years and managing the Direct Tax Advisory and Litigation practice of M/s. Dhanesh Gupta & Co., Chartered Accountants, New Delhi a renowned Chartered Accountancy firm in the core domain of direct taxation established in 1978. His forte is handing Income Tax Search and Seizure matters, matters before the Income Tax Settlement Commission, other direct tax litigation matters and legal representation before various authorities enforcing economic and tax laws incl. under PMLA, SFIO, EOW, DRI, SEBI, CCI, Benami Laws and Black Money etc. As on today, he has wide experience of handling Income Tax Search and Seizure Cases across the country, represented matters before the Income Tax Settlement Commission, ITAT and other appellate tribunals constituted under various economic laws. He has been contributing articles in various professional magazines/journals and addressing various seminars on topics relating to Income Tax Search and Seizure, allied tax matters and economic laws. He has to his credit plethora of well researched articles out of which many have appeared in leading journals. In Addition to the above, Mr. Mohit Gupta is also a Special Auditor of the Income Tax Department and has carried out numerous Special Audits across the country on being appointed by the Income Tax Department which have plugged tax evasions, tax base erosion and other tax manipulative practices and in turn facilitated the Income Tax Department to collect huge tax revenues. Mr. Mohit Gupta has also been appointed as Special Auditor under other economic statutes and by other Investigation Agencies of the Government of India. Mr. Mohit Gupta has also authored the periodical Newsletter on Income Tax Search and Seizure. The said newsletter contained well researched write ups / articles and judicial developments on the matters of Direct Taxation. Mr. Mohit Gupta is also a renowned author on Direct Tax Subjects. His books received extremely overwhelming responses from the readers including the tax payers, tax administration, tax professionals, corporate houses and academicians. The said books were released by erstwhile Hon’ble Union Finance Minister, Shri. Arun Jaitley, Shri.Arjun Ram Meghwal, Minister of State for Finance and the Chairman of Central Board of Direct Taxes and many other dignitaries. Due to his continuous desire to always rise on the learning curve, he always has a quest and quench to read more, learn more and perform even more. CA.Mohit Gupta can be reached at ca.mohitgupta@icai.org, 91-9999008009 (A-301, Defence Colony , New Delhi-110024).

Declaration Of Undisclosed Income To “Buy Peace” Does Not Renders Immunity From Initiation And Levy Of Penalty

Declaration Of Undisclosed Income To “Buy Peace” Does Not Renders Immunity From Initiation And Levy Of Penalty

INCOME TAX / By / January 29, 2022 /

Introduction:- The legislature has intentionally drafted the provisions relating to Search and Survey in the statue book of Income Tax Act, 1961 with the target of unearthing the undisclosed income of any person in form of any money, bullion, jewellery or other valuable article or thing. Search carried out u/s 132 of the Income Tax …

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Right Of The Assessee To Cross Examine in Income Tax Search And Seizure: An Analysis

Right Of The Assessee To Cross Examine in Income Tax Search And Seizure: An Analysis

INCOME TAX / By / January 10, 2022 / , , ,

Introduction:- The principles of natural justice forms an integral part of procedural fairness and justness, thereby excluding the scope of arbitrariness. Even though the right of hearing, which forms a part of the principles of natural justice, before an order is passed under some of the provisions of the Income-tax Act 1961, is not specifically …

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Bank Lockers And Income Tax Search & Seizure: A Study

Bank Lockers And Income Tax Search & Seizure: A Study By CA Mohit Gupta

INCOME TAX / By / December 11, 2021 / , ,

Legality of roping in an unconnected third party in the rigors of an Income Tax Search and Seizure action (including bank lockers of such unconnected third parties) Introduction:- The authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be taken recourse to when the conditions mentioned …

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A Study Of Incriminating Material Found During The Course Of Income Tax Search

A Study Of Incriminating Material Found During The Course Of Income Tax Search

INCOME TAX / By / December 8, 2021 / , ,

Introduction: Section 153A provides the procedure for completion of assessment in case of a person where a search is initiated under Section 132 or books of account or other documents or any assets are requisitioned under Section 132A after 31st May, 2003 but on or before the 31st Day of March’2021. In such case, the Assessing Officer …

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Findings Of Incriminating Material And Undisclosed Income Post Income Tax Search- A Study

Findings Of Incriminating Material And Undisclosed Income Post Income Tax Search- A Study

INCOME TAX / By / November 15, 2021 / , ,

Introduction: Authority and power to conduct search and seizure operations is strident and caustic power authorized by law to be taken recourse to when the conditions mentioned under different clauses of Section 132 (1) of the Act are satisfied. The jurisdictional facts that have to be established before a search under Section 132 (1) of …

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Income Tax Search and Seizure: Irregularity versus an illegal Income Tax Search-An Analysis

Income Tax Search and Seizure: Irregularity versus an illegal Income Tax Search-An Analysis

INCOME TAX / By / September 27, 2021 / , ,

Introduction: Section 132 of the Income Tax Act’1961 prescribes that the competent authorities are empowered to permit the authorized officers to enter, search, break open, seize, place marks of identification and take other steps as contemplated under sub-clauses (i) to (v). However, such powers can be exercised against a person upon fulfilment of certain conditions. …

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New Regime of Income Tax Search and Seizure Assessments- Glaring Implications

New Regime of Income Tax Search and Seizure Assessments- Glaring Implications

INCOME TAX / By / August 18, 2021 /

Introduction:- The Hon’ble Union Finance Minister Nirmala Sitharaman had presented the Union Budget 2021 of India on the 1st of February, 2021. In significant changes to the taxation process, among other tax measures, the Hon’ble Finance Minister recommend paradigm changes to the provisions relating to Assessment in case of Search or requisition. The Finance Bill, 2021 received …

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