Dr. K. Shivaram, Senior Advocate, has pointed out that the Ordinance defeats the decision of the Supreme Court in Madras Bar Association vs. UOI which inter alia held that advocates with experience of at least 10 years are eligible for appointment as Judicial Members in the ITAT. He has also pointed out that the terms of the Ordinance are such that many Advocates or Chartered Accountant will not be inclined to apply for the post of Members of the ITAT. This will have a detrimental effect on the ITAT. The Ld Advocate has suggested that the entire issue may be reconsidered by the Govt
The Hon’ble Income tax Appellate Tribunal (ITAT) which has completed 80 years of its existence has 63 benches at 29locationsacross the Country. Out of its sanctioned capacity of 126 members. On July, 06, 2018 an advertisement was issued by the Central Government seeking appointment of 21 Judicial Members and 16 Accountant Members. Accordingly, the search cum selection committee made its recommendations in November 2019.
Dr. K. Shivaram, Senior Advocate, has lauded the recent philosophy of the Income-tax Dept of “Honouring the Honest“. He has described it as a “Game Changing Fiscal Policy“. He has advised that the tax administration has to make sincere efforts to satisfy at least 10 expectations of high tax payers. He has opined that this will be a way forward to eliminate the so-called “Trust Deficit” between the Tax Department and the Asseessees
Dr. K. Shivaram, Senior Advocate, has pointed out that the stakeholders in the ITAT will have no option but to adapt to a mixture of virtual and physical hearings, in order to dispose off appeals and do justice. The ld. author has offered valuable suggestions on how the challenges can be overcome and the task achieved with least hardship to all concerned
Dr K. Shivaram, Senior Advocate, has lauded the Income tax Appellate Tribunal and the Tax Professionals for playing a proactive role during lock down by organising Webinars on several subjects which have helped tax practitioners to better their understanding on various issues. He has pointed out that this salutary practice has also helped them to do away with negative thoughts that set in as a result of the Lockdown
Dr. K. Shivaram, Senior Advocate, has pointed out that the lament by Nani Palkhivala several decades ago regarding the ‘maddening instability‘ of the Income-tax Act and it being a “national disgrace” holds good today as well as is reflected by the numerous amendments ushered in by the Finance Bill 2020. Some amendments are ill-thought of and have led to enormous confusion and anxiety amongst taxpayers. Also, the non-allocation of funds to the Judiciary shows a lack of seriousness in the Government regarding clearing the massive backlog of cases in Courts. The learned author has also made valid points regarding the ‘Vivad Se Vishwas’ scheme and other important proposals in the Budget
Dr. K. Shivaram, Senior Advocate, has stated that the step to cut corporate tax is a much needed bold reform-tax. He has pointed out that professionals have wholeheartedly appreciated the sincere efforts of the Honourable Prime Minister of India and Honourable Finance Minister of reducing the tax rates and creating investment-friendly atmosphere in the Country 