Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: VAT Audit :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: list of goods taxed at 4% :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: cpt
 
 
From the Courts »
  Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 Micro Spacematrix Solution P Ltd vs. ITO (ITAT Delhi)
 CIT vs. Greenfield Hotels & Estates Pvt. Ltd (Bombay High Court)
 IndiaBulls Financial Services Ltd vs. DCIT (Delhi High Court)
 Maharao Bhim Singh of Kota vs. CIT (Supreme Court)
 Ravneet Takhar Vs. Commissioner Of Income Tax Ix And Ors.
 Jaiprakash Associates Ltd. Vs. Commissioner Of Income Tax
 Formula One World Championship Limited Vs. Commissioner Of Income Tax, International Taxation-3 And Anr.
 Commissioner Of Income Tax International Taxation-3 Delhi Vs. Formula One World Championship Ltd. And Anr.
 Reliance Communications Ltd vs. DDIT (ITAT Mumbai)
  Sushila Devi vs. CIT (Delhi High Court)

Govt likely to challenge ITAT ruling on Bofors case
February, 07th 2011

The government is likely to challenge the Income Tax Appellate Tribunal ruling on Bofors case in the Delhi High Court for its remarks against the Income Tax department.

Though government was not a direct party in the case, based on the opinion of Attorney General Ghoolam Vahanvati, the Law Ministry is understood to have asked the Finance Ministry to challenge the ITAT ruling as it contained certain remarks against the Income Tax department.

The tribunal had said that commissions were paid to late Win Chaddha and Italian businessman Ottavio Quattrocchi in the Bofors gun deal in the nineties.

"In our view, to enforce the rule of law, these steps were desirable to bring all the relevant income tax violations to the logical end by the income tax department. Inaction in this regard may lead to a non-existent undesirable and detrimental notion that India is a soft state and one can meddle with its tax laws with impunity," the tribunal had said in its 98-page order.

Vahanvati is learnt to have told the Law Ministry that the Income Tax department, which comes under the Finance Ministry, should challenge the ITAT order in the Delhi High Court for removal of the remarks by the tribunal against the Income Tax department in its December, 2010 order.

The appeal will be restricted to the strictures against the I-T department only. It will not touch upon the issue of any private person who had approached the tribunal on taxation matters.

The tribunal in a ruling on an appeal filed by Chaddha's son, Hersh W Chaddha had concluded the arms dealer had got Rs 52.6 crore as kickbacks and Quattrocchi got USD seven million (around Rs 13 crore).

In response to a reference from the Finance Ministry, the AG is learnt to have stated the tribunal had overstepped its jurisdiction.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions