The Finance Bill 2013 has been passed by the Lok Sabha today (30.04.2013) after incorporating several important amendments. Among the important amendments is the proposed insertion of sub-section (3) to s. 252 to provide that the Central Government may inter alia appoint a person who is a sitting or retired Judge of a High Court as the President of the Tribunal.
Download Finance Bill 2013 As Passed By Lok Sabha On 30.04.2013 (202.2 KiB, 2,751 hits)
Amendments To The Finance Bill 2013 As Approved By The Lok Sabha (1.4 MiB, 8,868 hits)
This pdf document is not the complete one. Can you upload the final document with 5 Lists as approved by the Lok Sabha?
I think knowledge of Income Tax Act,1961 and Income Tax Rules 1962 must be necessary for the jokers appointed by Ministry of Finance to frame Assessment Orders under Section 143 and U/S 143 of Income Tax Act,1961. These days Orders are prepared by Return preparers having NIL knowledge of Income Tax Act and Rules creating hell for honest tax payers. The quality of Assessment Officers is deteriorating with the change of every Finance Minister and with the change of every Central Government since 1967.How long this will continue. Stupid people do not know their powers and they regularly exceed their brief .We are waiting for Judges like Justice Anand Narain Mulla during british rule whose judgements we remembered by heart after one reading.
in my view it is necessary to have highcourt judge as presiding officer of the tribunal tomaintain judicial discpline and fair interpretation of of the statutory laws as complex provisions of tax laws by adopting canons of interpretation by applying judicial mind
it is good to have high court judge as president of tribunal. so lot of flip flops will disappear as govt executives do not really know tne correct interpretation of laws. yes it is too late but yet better late than never is this present fin bill