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: list of goods taxed at 4% :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: form 3cd :: ACCOUNTING STANDARD :: due date for vat payment :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: empanelment :: cpt :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« From the Courts »
 M/S TEJ QUEBCOR PRINTING LTD. Vs. JOINT COMMISSIONER OF INCOME TAX
 Principal Commissioner Of Income Tax (Central) Vs. M/s A2z Maintenance & Engineering Services Ltd.
 Pr. Commissioner Of Income Tax-19 Vs. Shri Neeraj Jindal
 Rollatainers Ltd. Vs. Commissioner Of Income Tax
 CIT vs. G K K Capital Markets (P) Limited (Calcutta High Court)
 CIT vs. Arpit Land Pvt. Ltd (Bombay High Court)
 CIT vs. Abacus Distribution Systems (India) Pvt. Ltd (Bombay High Court)
  ACIT vs. Mahesh K. Shah (ITAT Mumbai)
  Malay N. Sanghvi vs. ITO (Bombay High Court)
 Pr. Commissioner Of Income Tax-Xviii Vs. Praveen Saxena
 Unitech Hospitality Services Limited Vs. Assistant Commissioner Of Income Tax

I-T dept moves court over ITAT's Marico directive
March, 23rd 2009

The Income-Tax department is at loggerheads with the Income Tax Appellate Tribunal (ITAT), the ultimate fact-finding body on tax disputes, over the latters demand for verifying the reasons for conducting a raid on FMCG major Marico Industries.

ITAT had directed the department to produce the satisfaction note, which is an internal document prepared by income tax officers, who plan to conduct a raid. It is this note that ITAT wants to have a look at. The department sees this as an intrusion into its domain.

The Income-Tax department, which feels that the satisfaction note is a part of its administrative procedure, has moved the Bombay High Court challenging the jurisdiction of the ITAT to issue such directives to the department. The matter will be heard next month. The department apprehends that if ITAT is allowed to have its way, the department will lose its functional independence on tax raids and surveys, which, until now, has been its sole prerogative.

Checks and balances are built into the system, the department pointed out. A satisfaction note explains why an entity needs to be raided and the departments reasons for presuming that income has escaped the tax net or the possibility of that happening if not checked in time. It also gives reasons for why a raid is considered the best action under the given circumstances.

The note is then submitted to the additional director of investigation and then the investigation director. The ultimate authority that approves the note is the director general of investigation, an officer of the rank of chief commissioner.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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