Income Tax : Amendment in section 245MA of the Act related to Dispute Resolution Committee Finance Act, 2021 introduced a new chapter XIX-AA in...
Income Tax : The Finance Act, 2009 introduced with effect from 01.10.2009 an alternate dispute resolution mechanism to facilitate expeditious r...
Income Tax : INTRODUCTION According to a Survey India records highest rate of bribery in Asia i.e.39% and highest rate of citizens using person...
Income Tax : For the first time in the history of India, the Finance Minister presented a paperless Union Budget for FY 2021-22 through a Made ...
Income Tax : Budget 2021- Constitution of Dispute Resolution Committee for small and medium taxpayers The Central Government has consciously ad...
Income Tax : Major Achievements of CBDT in Current Financial Year 2016-17 so far include among others Enactment of The Benami Transactions (Pro...
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 : Litigation is a scourge for a tax friendly regime. In order to reduce the pending litigation, the Direct Tax Dispute Resolution Sc...
Custom Duty, Excise Duty, Service Tax : CBEC takes Litigation Management and Dispute Resolution measures; Field formations file applications for withdrawal in 980 and 217...
Income Tax : Bombay High Court held that Dispute Resolution Panel (DRP) could give directions only in pending assessment proceedings. Once asse...
Income Tax : ITAT held that receipts from Satellite Transmission Services cannot be treated as royalty & not taxable at the hands of assessee i...
Goods and Services Tax : DGGI Vs Abhit Manohar (Patiala House Court) Applicant/accused is Masters in Business Administration. He is reported to be the sole...
Income Tax : It was held that DRP’s direction to the AO for carrying out a fresh examination of the claim of the assessee u/s.10A of the Act ...
Income Tax : Bhupendra Murji Shah Vs. DCIT (Bombay High Court) We are not concerned here with the Circular of the Central Board of Direct Taxes...
Income Tax : Detailed analysis of CBDT office order, outlining constitution and functioning of Dispute Resolution Committee in line with e-Disp...
Income Tax : CBDT notifies vide Notification No. 26/2022 – (Income Tax) | Dated: 5th April, 2022 Rule 44DAA – Constitution of Dispu...
Income Tax : Deceleration under Direct Tax Dispute Resolution Scheme can be filed till 31.01.2017 instead of earlier time allowed till 31.12.20...
Income Tax : Further queries have been received from the field authorities and other stakeholders on Direct Tax Dispute Resolution Scheme, 2016...
Income Tax : have been directed to state that the data of number of cases disposed every month by each CIT(A) is required to be forwarded to t...
Any person whose appeal is pending before Commissioner (Appeals) can opt for this scheme except the following cases, when: (a) the impugned order is in respect of search and seizure proceeding; or (b) prosecution for any offence punishable under the Act has been instituted before the 1st day of June, 2016; or
162. Litigation is a scourge for a tax friendly regime and creates an environment of distrust in addition to increasing the compliance cost of the tax payers and administrative cost for the Government. There are about 3 lakh tax cases pending with the 1st Appellate Authority with disputed amount being 5.5 lakh crores. In order to reduce this number, I propose a new Dispute Resolution Scheme (DRS)
CBEC takes Litigation Management and Dispute Resolution measures; Field formations file applications for withdrawal in 980 and 2174 cases in High Courts and CESTAT respectively as per the new threshold monetary limits prescribed; Out of this, High Courts allow withdrawal in 250 cases and CESTAT in 202 cases.
Under Indirect Taxes, the scheme namely, the Indirect Tax Dispute Resolution Scheme, 2016 (the IDT DRS Scheme, 2016), introduced in the Union Budget, 2016 as the Governments positive intent to reduce litigation in Indirect Taxation, embraces an important question on its success quotient, considering its not-so-lucrative provisions.
Clauses 209 to 215 of the Finance Bill, 2016 seeks to insert new Chapter XI to provide for the Indirect Tax Dispute Resolution Scheme, 2016. The said Scheme provides for settlement of the disputes pending before the Commissioner (Appeal) as on the 1st March, 2016, on payment of tax dues along with interest and twenty-five […]
Emanating from an appeal against the Divisional Bench Judgment of the Madras High court, in the case of T. P. Vishnu Kumar v. Canara Bank P.N. Road, Tiruppur and Ors, the highest court of the country, reiterated the principle that when specific remedy is available, invocation of writ jurisdiction under Article 226 of the Constitution of India is not permissible.
Section 179 of the Income-tax Act provides that where the tax due from a private company cannot be recovered from such company, then the director (who was the director of such company during the previous year to which non-recovery relates) shall be jointly and severally liable for payment of such tax unless he proves that the non-recovery of tax cannot be attributed to any gross neglect, misfeasance or breach of duty on his part.
Change is what has bought us to the juncture and change is what it will take to usher in a new future as we contemplate way to address the challenges. Many changes have focused on bringing in greater clarity while others have expanded the scope of its operations. Indian Transfer Pricing ambit has been changed with introduction of Safe Harbour Rules (SHR), Advance Pricing Agreements (APA) & Dispute Resolution Panel (DRP).
Shri Jesudasu Seelam, Minister of State (Revenue), Ministry of Finance said that the Government of India is keen to provide a suitable mechanism for resolution of tax disputes between the tax department and foreign companies operating in India. In this direction, he said that the Government inserted provisions relating to Advance Rulings vide Finance Act, 1993.
With this amplification of the scope of the power of the DRP, now even the matters not agitated by the assessee before the DRP can also be considered for the purposes of enhancement.
