The author slams the Government for repeatedly trying to scuttle the settlement mechanism. He argues that a statutory provision designed to bring taxpayers who have gone astray onto the right path must be implemented in a pragmatic manner. He lauds the Bombay High Court for reading down the ill-conceived amendments to the settlement provisions by the Finance Act, 2007 and exhorts the Government to accept the judgement of the Bombay High Court in the right spirit and not exacerbate the matter by filing an appeal. The author also uses his rich experience to set out a road map to be followed by all the stake-holders for a speedy disposal of the settlement applications.
itatonline.org
Only the latest & most important updates on taxation
Author: admin
No funds for the temple of justice …
The author is aghast that while the Finance Minister has been generous in providing funds to the other sections of society, he has totally overlooked the judiciary. He implores the Government not to ignore the judiciary and warns that unless financial independence is given to the judiciary, judicial reforms are not possible.
Dear Finance Minister, this Budget, I want ….
The author puts on his thinking cap and conjures up a 10-point wish-list of conceptual changes that need to brought about in the tax policy to ensure effective compliance. He also puts his vast experience in the field of tax laws to good use to identify specific loop holes and suggests measures to plug the same.
Lamb (Tax payer) vs. Wolf (corrupt official)!
The author does some soul-searching to discover the reasons why fellow-Indians do not pay their taxes honestly even though they know it is their constitutional duty to do so. He argues that the poor policies of the tax administration are responsible for this sorry state of affairs and suggests a few solutions to set things right.
Judges on Contract!
The author is severely critical of the proposal of the Government to appoint Members of the Tribunal on contract basis for 5 years subject to renewal at the discretion of the Government. He warns that making the Members insecure about …
The Ten Commandments!
The author argues that the Bar must not just complain about faults in the judicial process but must play a proactive role in bringing about reforms. He makes a fervent plea that we should follow the Ten Commandments and promises that we can then restore the Tribunal to its’ past pristine glory.
Say No to Foreign Lawyers!
The author endorses the stand of the Swadeshi Brigade and argues that while Indian lawyers can tackle the stiff competition put up by the foreign lawyers, their sense of values, tradition and ethics will be compromised by the business-like approach of such lawyers.
Make the common man “supreme”
The author expresses dismay that justice from the Supreme Court is beyond the reach of common citizens of our Country. He makes out a strong case for setting up of four zonal benches of the Supreme Court and also argues that the use of tele-conferencing by the judiciary is imperative to save time and costs.
Fight the twin evils of Society!
The author laments that while a heinous crime like terrorism is being fought spiritedly with commandos and bullets, not much is being done about corruption. He warns that corruption is a cancer which is slowly corroding the roots of our …
Conflict of interest!!
The author warns of a serious conflict of interest in permitting serving Commissioner (Appeals) to argue appeals on behalf of the Department before the ITAT. He argues that no person can be a judge and a lawyer at the same time