Case Law Details
Ashok Kumar Vs ITO (ITAT Chandigarh)
Before parting, it needs be highlighted that for India to achieve the status of a USD 5 trillion economy, the banking industry necessarily needs to have a very robust and transparent mechanisms of zero tolerance of abuse of power without which the Indian ambition can only remain a pipe dream. It can never be over emphasized that in the backdrop of growing NPAs as a threat to the banking sector it is the need of the hour that by practicing rigorous transparency and openness with the ability to critical self regulate their functioning, the banking industry has got the ability to separate the grain from the chaff. The need to encourage and applaud innovation and improvement in governance in the banking sector must be tempered with strict accountability and zero tolerance for abuse of trust and power. The Indian dream of becoming a 5 trillion USD economy is not a mere optimistic dream these aspirations have all the ingredients of inherent potential of an achievable aim. However, this aspiration necessarily has to ride on the shoulders of the banking and financial sectors. Their robustness cannot be compromised. The accountability of individual aberrations must be seen to be fixed to check the rampant irresponsible egos of a few black sheep giving it a bad name. The fact that the Indian growth is to be powered by the Banking and financial sector is well understood. The fact that it is still woefully dis-proportionate and very small vis-à-vis the economy needs proper appreciation. The fact that it is the most powerful engine powering this growth and thus, has a direct role alongwith the tax machinery cannot be ignored. Hence, the robustness cannot be compromised with.
Thus, similarly, the tax authorities necessarily need to have effective and meaningful protocols in place in order to ensure that they are not only trained to be citizen friendly but also seen to be so with robust powers of engaging positively with small town assessees and enabling them to be tax compliant. To expect that the U.S.D. 5 trillion aspirations can be realized with selective encouragements without the active involvement of the village economy and the small town aspirations is being very short sighted. The aspirations can only be realized if the Indian juggernaut in its entirety is put in motion. I am of the view that in order to realize this generally feasible and not highly optimistic ambition of a global economic force status. The tax authorities should be necessarily and urgently trained to enable the nurturing, fuelling and funneling of the small town aspirations of the citizens coupled with the powering provided by the banking and the financial sectors which can ensure the entry of India as a responsible economic force to be reckoned with in the global economic powerhouse of nations. Hence, I am of the view that the citizen/assessee friendly environment and workforce necessarily needs to be set in place at the earliest. Hence, it is my humble suggestion that creation of a TAX ADVISORY CELL is the urgent need of the hour.
FULL TEXT OF THE ORDER OF ITAT CHANDIGARH
The present appeal has been filed by the assessee wherein the correctness of the order dated 12.03.2020 of CIT(A) Karnal pertaining to 2011-12 assessment year is assailed on various grounds. These read as under :
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