Month: November 2009

Hon’ble Shri R.V. Easwar, Judicial Member, has been elevated as Senior Vice President and posted to the Mumbai Bench of the Tribunal with effect from 25th November 2009. Shri. Easwar has qualified as LLM and ACA and practised as a lawyer from 1975 to 1991 in Chennai. After his elevation to the Bench in 1991, he has served the Kolkota, Mumbai, Delhi and Bangalore Benches. He has been a party to several landmark judgements such as Mid East Portfolio 87 ITD 537 (Mum) (SB), Lalsons Enterprises 89 ITD 26 (Del) (SB) and Kanel Oil (Ahd) (TM).

Considering the facts and circumstances of the class of cases of TPAs and insurance companies, the Board has decided that no proceedings u/s 201 may be initiated after the expiry of six years from the end of financial year in which such payment have been made without deducting tax at source etc by the TPAs. The Board is also of the view that tax demand arising out of Section 201(1) in situations arising above, may not be enforced if the deductor(TPA) satisfies the officer in charge of TDS that the relevant taxes have been paid by the deductee assessee (hospitals etc.). A certificate from the auditor of the deductee assessee stating that the tax and interest due from deductee assessee has been paid for the assessment year concerned would be sufficient compliance for the above purpose. However, this will not alter the liability to charge interest under Section 201 (1 A) of the Income Tax Act till payment of taxes by the deductee assessee or liability for penalty under Section 271C of the Income Tax Act as the case may be.

Income-tax (Dispute Resolution Panel) Rules, 2009 Notification No. 84/2009[S.O. 2958(E)/F.No. 142/22/2009-TPL], dated 20-11-2009 In exercise of the powers conferred by sub-section (14) of section 144C of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes makes …

Income-tax (Dispute Resolution Panel) Rules, 2009 Read More »

A list of Special Bench matters pending in the Mumbai Bench of the Tribunal as of 1.11.2009 is available for download. The list of All – India Special Bench matters is available here.

The International Tax Conference will be hosted by the Asia-Oceania Tax Consultants’ Association (AOTCA) which is the international body for tax professionals in the Asia-Oceania region – in association with the All India Federation of Tax Practitioners (A1FTP). This Conference …