Income Tax : If this healthy rule is not followed, the result will only be undue harassment to assessees and chaos in administration of tax law...
Corporate Law : A third party who independently provides funds to parties for a dispute in exchange of a fraction of monetary rewards that is reco...
Income Tax : Krishna Mohan Prasad Principal Director General of Income Tax (Legal & Research) krishna.m.prasad@incometax.gov.in Sh. Krishna...
Income Tax : The author has taken strong exception to the CBDT castigating CIT(A) for giving relief to taxpayers on legal grounds. He has also ...
Income Tax : A big question before the Government – How to reduce the overburdened judiciary. A tax issue may take 5 to 7 years to settle at ...
Goods and Services Tax : In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitat...
Income Tax : The suggestions of Committee to Study Appellate Orders to Examine Filing of Appeals by Income Tax Department before Various Forums...
Income Tax : Report deals with 1. Issues that give rise to frivolous litigation. 2. Issues that impact the quality of representation and effect...
Income Tax : The Central Board of Direct Taxes has taken a number of decisions to clarify the applicability of various provisions of the Income...
Income Tax : The Direct Tax Dispute Resolution Scheme, 2016 was introduced with effect from 01.06.2016 to address the issue of pending litigati...
If this healthy rule is not followed, the result will only be undue harassment to assessees and chaos in administration of tax laws. Thus, recognising the principle of natural justice which encourages equity, fairness and equality, must be followed at every staggered procedure.
A third party who independently provides funds to parties for a dispute in exchange of a fraction of monetary rewards that is recovered from the proceedings is called Litigation Financing. It is also referred as Third Party Funding (TPF). This type of funding adjudges the value of legal claims even before they can be recovered […]
Krishna Mohan Prasad Principal Director General of Income Tax (Legal & Research) krishna.m.prasad@incometax.gov.in Sh. Krishna Mohan Prasad is an IRS officer of 1984 batch and is currently posted as Principal Director General of Income Tax, Directorate of Legal & Research, New Delhi. He had worked extensively as Commissioner (Appeals) and Commissioner(Judicial). He had been part […]
The author has taken strong exception to the CBDT castigating CIT(A) for giving relief to taxpayers on legal grounds. He has also condemned the CBDTs offer of incentives to CIT(A) to enhance assessments. He has argued that by dictating CIT(A)s to carry out appellate proceedings with a preconceived notion and in a prejudiced process, the CBDT has crossed the lakshman rekha by compromising a fair and unbiased trial promised by our Constitution.
A big question before the Government – How to reduce the overburdened judiciary. A tax issue may take 5 to 7 years to settle at ITAT level and another 5 to 7 years, if matter moves to courts.
In 2015 CBDT issued Circular No. 21/2015 dated 10.12.2015 specifying monetary limits and other conditions for filing Appeals/SLPs by the Income Tax Department before Income Tax Appellate Tribunal, High Court & Supreme Court. Now, as a measure to reduce the tax litigations CBDT has revised these monetary limits as below vide its Circular No.3/2018 dated 11.07.2018:-
In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease of Doing Business, Government of India has decided to increase the threshold monetary limits for filing Departmental Appeals at various levels, be it Appellate Tribunals, High Courts and the Supreme Court in […]
The suggestions of Committee to Study Appellate Orders to Examine Filing of Appeals by Income Tax Department before Various Forums are based upon: i) Analysis of actual data collected by the Committee ii) Interaction with the officers of the Income Tax Department iii) Study of the Global Best Practices.
Report deals with 1. Issues that give rise to frivolous litigation. 2. Issues that impact the quality of representation and effective management of litigation. 3. Systemic issues impacting effective litigation management and how to deal with these issues.
The Direct Tax Dispute Resolution Scheme, 2016 was introduced with effect from 01.06.2016 to address the issue of pending litigation before CsIT (A). Tax payers stand to benefit by a timely disposal of their litigation, while the Department stands to reduce its administrative cost in disposing appeals and also to collect its due taxes. Therefore, it becomes expedient on the part of all officers to ensure that the Scheme is a resounding success.
