tax tribunal

Tax Terrorism at its peak under BJP regime

Income Tax - Before going through the content of the article let us understand what the word Tax Terrorism means. The term ‘tax terrorism’ was first used by the current Prime Minister Narendra Modi to describe the adversarial approach adopted by tax authorities under Congress lead UPA....

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Scope of appeals from ITAT orders u/s. 260A of Income-tax Act, 1961 and S. 15 of N.T.T. Act, 2005

Income Tax - A remedy by way of appeal from the orders of ITAT is provided both u/s.260A of the Income-tax Act, 1961 and u/s.15 (w.e.f. 6-1- 2006) of the N.T.T. Act, 2005. Although appeals from the orders of ITAT are supposed to be filed only in the National Tax Tribunal from 6-1-2006, yet appeals are being filed in the High Court for good reasons. He...

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Tax dispute resolution Coverage, Scope, Problems, Challenges, Suggestions & Motive

Income Tax - Tax dispute resolution in the Indian context hasn’t particularly been an encouraging experience. While a portion of this taint could be attributed to complexity of tax laws and efficiency levels of the administrative process, a material reason is delay in seeking resolution due to multiple layers of appeals, which currently is four....

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Central excise refund is taxable and distinct from profit derived from industrial activity

Income Tax - Tax dept says Central excise refund should be taxed because it is a benefit derived from a government scheme and is distinct from profit derived from industrial activity.IN A decision that could impact companies with operations in the north-east , Jammu & Kashmir and Himachal Pradesh, a tax tribunal in Amritsar has ruled recently that suc...

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Radio broadcasters expressed concerns over the proposed move to introduce Section 33A in the Copyright Act

Income Tax - RADIO broadcasters have expressed concerns over the proposed move to introduce Section 33A in the Copyright Act which would give unfair powers to the music societies to fix tariff and could potentially derail the radio industry already reeling under massive losses....

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No Provision for Appeal to High Court in New direct tax code 2009

Income Tax - The new Code does not provide for any appeal to the High Court. Section 192 provides for an appeal to the National Tax Tribunal, from an order passed in appeal by the ITAT and Section 193 provides for an appeal to the Supreme Court from any order of the National Tax Tribunal....

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Valuation methodology at fault not the assessee

Income Tax - The Delhi Income-Tax Tribunal has held that valuation of perquisite determined by the assessee relying on interpretation of Taxman’s Direct Taxes Ready Reckoner, the assessee could not be deemed to be an assessee-in-default and consequently, interest under section 201(1A) could not be levied though the valuation methodology was held not...

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SC to decide priority in cases of recovery of goverment dues

Income Tax - The Supreme Court will decide whether recovery of government dues, including income tax and excise, should get priority over liabilities of banks and other creditors while dividing the assets of a sick company. Tax authorities have moved the apex court challenging the Punjab and Haryana High Court which held that excise dues cannot get pr...

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Recent Posts in "tax tribunal"

Tax Terrorism at its peak under BJP regime

Before going through the content of the article let us understand what the word Tax Terrorism means. The term ‘tax terrorism’ was first used by the current Prime Minister Narendra Modi to describe the adversarial approach adopted by tax authorities under Congress lead UPA....

Read More
Posted Under: Finance | ,

Scope of appeals from ITAT orders u/s. 260A of Income-tax Act, 1961 and S. 15 of N.T.T. Act, 2005

A remedy by way of appeal from the orders of ITAT is provided both u/s.260A of the Income-tax Act, 1961 and u/s.15 (w.e.f. 6-1- 2006) of the N.T.T. Act, 2005. Although appeals from the orders of ITAT are supposed to be filed only in the National Tax Tribunal from 6-1-2006, yet appeals are being filed in the High Court for good reasons. He...

Read More
Posted Under: Finance |

Tax dispute resolution Coverage, Scope, Problems, Challenges, Suggestions & Motive

Tax dispute resolution in the Indian context hasn’t particularly been an encouraging experience. While a portion of this taint could be attributed to complexity of tax laws and efficiency levels of the administrative process, a material reason is delay in seeking resolution due to multiple layers of appeals, which currently is four....

Read More
Posted Under: Finance |

Radio broadcasters expressed concerns over the proposed move to introduce Section 33A in the Copyright Act

RADIO broadcasters have expressed concerns over the proposed move to introduce Section 33A in the Copyright Act which would give unfair powers to the music societies to fix tariff and could potentially derail the radio industry already reeling under massive losses....

Read More
Posted Under: Finance |

Central excise refund is taxable and distinct from profit derived from industrial activity

Tax dept says Central excise refund should be taxed because it is a benefit derived from a government scheme and is distinct from profit derived from industrial activity.IN A decision that could impact companies with operations in the north-east , Jammu & Kashmir and Himachal Pradesh, a tax tribunal in Amritsar has ruled recently that suc...

Read More
Posted Under: Finance |

No Provision for Appeal to High Court in New direct tax code 2009

The new Code does not provide for any appeal to the High Court. Section 192 provides for an appeal to the National Tax Tribunal, from an order passed in appeal by the ITAT and Section 193 provides for an appeal to the Supreme Court from any order of the National Tax Tribunal....

Read More
Posted Under: Finance |

Valuation methodology at fault not the assessee

The Delhi Income-Tax Tribunal has held that valuation of perquisite determined by the assessee relying on interpretation of Taxman’s Direct Taxes Ready Reckoner, the assessee could not be deemed to be an assessee-in-default and consequently, interest under section 201(1A) could not be levied though the valuation methodology was held not...

Read More
Posted Under: Finance |

SC to decide priority in cases of recovery of goverment dues

The Supreme Court will decide whether recovery of government dues, including income tax and excise, should get priority over liabilities of banks and other creditors while dividing the assets of a sick company. Tax authorities have moved the apex court challenging the Punjab and Haryana High Court which held that excise dues cannot get pr...

Read More
Posted Under: Finance |

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