Release of the publication on December 05, 2020 titled “Reassessment Law, Procedure & Practice – Practical Guide”
Hon’ble Justice Mr. Vineet Saran, Judge of the Hon’ble Supreme Court of India at the Inaugural ceremony of 23rd National Convention of the All India Federation of Tax Practitioners (AIFTP) released the publication of the AIFTP titled “Reassessment law, procedure & Practice – Practical guide”. The Conference was hosted virtually from Hyderabad
The said publication is edited by Dr. K. Shivaram, Senior Advocate, and authored by Mr. Ajay R.Singh, Advocate, Bombay High Court who is one of the leading Tax Counsel in the field of Direct Taxes who has more than 20 years of experience.
The said publication is of utmost importance to all the Tax Practitioners and Assesses. On the basis of reported cases it was found that 80% of the Writs which are filed before the various Hon’ble High Court is on the issue arising from Reassessment.
The said publication is divided in to 26 chapters, viz, Procedure to challenge to reassessment notice, Approval and sanction, Notice of reassessment on the basis of Information from investigation wing, Reason to believe etc., Conditions for reopening beyond four years with in four years, sanction by the competent authority, etc.
All the important case laws on the subject of reassessment are discussed. After each chapter practical guide is provided, which can be considered as check list to tax professionals.
A Subject wise index is prepared which will be serve as a useful reference and also a case laws index which can be used for quick referencing
This publication is dedicated in Honour of Late Justice Dr. B. P. Saraf, former Chief Justice of the Hon’ble High Court of Jammu and Kashmir, which is sponsored by Dr Ashok Saraf, Senior Advocate from Guwahati High Court.
This is the third publication of the AIFTP for the year 2020 under the leadership of Mrs. Nikita Badeka, National President of the AIFTP, and under the Chairmanship ofMr. Mitesh Kotecha as a chairman of Publication committee.
For the benefit of the tax professionals, the author of the publication Mr Ajay R .Singh, Advocate has agreed to answer the issues on the subject of “Reassessment Law, Procedure & Practice – Practical guide” which arise from the publication for a period of 30 days from the date of publication.
23rd National Convention of AIFTP: Improvising tax reforms – Immunise Tax professionals
“Administration is duty bound to design and implement citizen friendly laws that is systematic and makes tax paying an awarding process”
Honorable Justice Vineet Saran, Judge Supreme Court of India
The 23rd National Convention of the All India Federation of tax Practitioners (AIFTP) was held on the 5th and 6th December 2020. The Guest of Honour was Hon’ble Justice Mr. Vineet Saran, Judge of the Supreme Court of India.
Speaking during the inaugural session, Lordship greeted the dignitaries, the organizers, the speakers and the participants. First and foremost, Lordship appreciated the efforts of AIFTP to organise a National Convention during these uncertain times of the pandemic. The theme i.e. “Improvising tax reforms – Immunise Tax professionals” for the conference is interesting and pertinent.
According to His Lordship, tax plays a great role in generating revenue for the Government, and this revenue in turn results in the development of a Nation. Therefore, the tax system adopted by a Country is integral for a country’s wellbeing. The robustness and soundness of the tax statutes aid the ease of doing business in India. Further, if tax incidence of tax evasions is eliminated the country will prosper.
His Lordship further stated that, keeping the political risk aside, an administration is duty bound to design and implement citizen friendly laws that is systematic and makes tax paying an awarding process. His Lordship appreciates the major overhaul in the field of direct taxes with the implementation of Faceless Schemes and the Citizens Charter.
Lastly, His Lordship congratulated the Federation for completing 44 years. The topics for the conference include GST, Principles of Natural Justice, Judicial Precedent, Faceless Schemes etc which are all currently relevant. His Lordship has complimented AIFTP by stating that the Government has time and again acknowledged the views of this Federation which itself establishes its importance.
(Credit: Advocate Sahshi Bekal)