Search Results For: $5 trillion economy


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DATE: August 29, 2019 (Date of pronouncement)
DATE: September 14, 2019 (Date of publication)
AY: 2014-15
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CITATION:
ITAT offers suggestions on how to remove hindrances to India's goal to become a $5 Trillion economy. Violations of tax laws by new assessees occur because of lack of proper advice. Instead of letting these sparks of economic change stifle and die due to fear of compliances, they should be assisted by the State. (i) Set up a Tax Advisory Cell consisting of public spirited Revenue officers with strong ethics, full awareness of tax laws and people skills (ii) Identify new successful businesses as the agents of economic change (e.g. Haldiram, Lijjat Papad) and assist them, (iii) Create a Tax Compliance Scheme specially for the benefits of these new ventures so as to address their past lack of compliance

In my experience as a dispenser of Justice, I have noticed that generally the violations of tax laws by new assessees do not occur because they are so desired but because of sheer lack of proper advice. Instead of letting these sparks of economic change stifle and die due to fear of compliances, I firmly believe for the detailed reasons set out hereinabove that they be urgent ly assisted in the interests of the State. Such sparks may be reflected at times in part time enterprising housewives, illiterate, semi-skilled men/women or teenagers. I would seriously exhort and urge the State through the tax administration to provide a platform specially created to assist these ventures to remain relevant and tax compliant