There have been a number of landmark judgements in the year 2012 and making a short-list of just 10 of them is not an easy task. Yet, the author, thanks to his experience and expertise, achieves this task. Of course, he can’t resist the temptation to make a “honourable mention” of several other important judgements. See, if you agree with his choice of the top-10 and his analysis of the judgements

1. Vodafone International Holdings B.V. vs. UOI (Supreme Court)

(Please, can we now end this soap opera)

Vodafone enjoys the pride of place as the numero uno landmark judgement of the year though it has now, despite its path-breaking and revolutionary stance over tax-planning and substance vs. form, attained the dubious status of a never ending soap opera.

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The author agonizes that though four long years have elapsed since the controversy over the alleged corruption in the Tribunal broke out, nothing tangible appears to have been achieved. He warns that an important issue like this cannot be left unresolved for too long as it will otherwise begin to undermine the taxpayer’s confidence in the great Institution. Instead, the Government should take proactive steps to bring the truth in the open and the best way to do it is to appoint an experienced Judge to conduct an impartial probe, he says. He also implores the Law Minister to take a speedy decision over the long-pending issue of appointment of a permanent President and filling up vacancies in the posts of Sr. Vice Presidents

(a) To initiate the proposal of appointing, permanent President of ITAT, Senior Vice President, and Vice-Presidents by the selection panel:

The Income Tax Appellate Tribunal, which was founded on 25th January, 1941 will be entering into 73 years of its existence, by 25h January, 2013. The Income tax Appellate Tribunal is also referred as mother Tribunal of all the Tribunals of our country. However, it is very unfortunate that ever since, the former President Shri Vimal Gandhi retired on 3-6-2010, the Ministry of Law and Justice of Government of India, for reasons best known to them has not initiated the proposal to appoint a Permanent President to this premier institution.

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The author goes ballistic over the recent judgement of the Supreme Court in PWC‘s case that s. 271(1)(c) penalty cannot be imposed if the assessee carelessly makes a wrong claim. He argues that the judgement neutralizes the deterrent effect of s. 271(1)(c) and is prone to abuse in the present regime of no scrutiny assessments. He fears that in the absence of a deterrent effect, assessees will be encouraged to ‘take a chance’ with bogus claims

The judgement of the Supreme Court in Price Waterhouse Coopers vs. CIT makes for startling reading and leads to unsatisfactory consequences. An assessee caught red-handed trying to smuggle in an untenable claim for deduction is able to escape penalty u/s 271(1)(c) for concealment/ filing inaccurate particulars of income by putting on a sheepish face and pleading that the untenable claim was because of some confusion at his end.

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On the occasion of the 150th Anniversary of the Bombay High Court, the author pays rich tribute to the stalwarts of the Bombay Bar who were fearless in their fight for the Country’s independence and also in the fight for preserving the basic structure of the Indian Constitution. The Tax Bar has contributed in its own little way towards the development of tax laws and the process of building the Nation while keeping the flag of the Bombay High Court flying high, says the author, and implores all professionals to emulate the Stalwarts and work for the benefit of the Nation.

Bombay High Court  which  was established on 14th  August 1862 has celebrated its 150 years Anniversary.  On this memorable occasion a publication was  published by  Maharashtra Judicial Academy & Indian Mediation Centre and Training Institute, titled “ A Heritage of Judging”. The Bombay High Court through one hundred and fifty years.   An  Exhibition is being held from  14th August  2012 to 2nd October 2012. The historical items, patriotic  pictures  which were displayed in the exhibition  made me  and many of our fellow lawyers feel proud that we are  Advocates  of Bombay High Court wherein our  father of Nation  Shri  Mohandass  Karmchand   Gandhi, Mr.  M.A. Jinnah, founding father of Pakistan, Dr B.R. Ambedkar  who drafted the Constitution of India , and many more  legal luminaries   practiced. I thanked the destiny   for making me a lawyer of Bombay High Court.

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