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: empanelment :: VAT RATES :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: TDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS
« News Headlines »
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016
 Announcement - Clarifications in Respect of MEF 2016-17
 Non-taxing GST apps to make filing income tax return less painful

Tax disputes to be settled faster soon
August, 23rd 2006
Soon your tax appeals before the Income-Tax Appellate Tribunal (ITAT) will be decided in a month or two. The process at present takes as long as 6-7 years. Finding itself under the glare of international tax authorities and professionals, the tribunal, which is the face of the Indian tax judiciary, is planning to quicken its pace to match global standards. It will soon put in place special benches, exclusively for deciding international tax disputes including transfer pricing issues. The bench, expected to have specialists in cross-border taxation, is expected to raise the quality of the ITAT orders. The decision-taking process is already on a fast track. Pending appeals in small tax disputes are reduced to just 127 in Mumbai, as against five-digit figures a few years back. Even the large tax disputes need not wait for more than a year now. In centres like Kolkata and Bangalore and non-metros, appeals are decided in less than six months. The ITATs decision to speed up the process is driven by the understanding that it is now closely watched by international tax bodies, tax journals and tax gurus like professor Klaus Vogel. The tribunals decisions are now reviewed in prestigious journals like Asia Pacific tax Bulletin, Amsterdam; Tax Notes International, US; and the Bulletin of International Standards, Amsterdam. With the international focus on it, ITAT feels the need to raise the bar to standards adopted by tax judiciary in developed countries. The ITAT is waking up to the global reality that an efficient tax judiciary is a major factor in deciding the location of investments. While its reputation abroad is better than the judiciary in China, it lags behind the systems followed in developed countries where pending cases are less than 500. Its long-term plan is to dispose of appeals as and when it is filed (in a week or so). The ITAT benches have already started moving towards this direction. The ITAT in Kolkata takes just a month to decide on an appeal. The ITAT has streamlined the system by taking a few steps. It first identified all the securities-scam related cases to a special bench and freed other benches for taking up normal cases. Similarly, appeals on identical issues were grouped together so that whenever such issues come up for hearing, they are heard and disposed of at one go. Also, it has undertaken a special four-weeks drive to clear old cases. During this period, only old cases were heard and decided. All cases related to Section 80 HHC of the IT Act were taken up on out of turn basis. As a result, the number of cases pending, on an all-India basis, has come down to around 90,000, from about four lakh cases a few years ago. Vimal Gandhi, president, ITAT, said, I look forward to a time when we will be able to hear the appeals the same month in which they are filed. He is certain that he will achieve this in a year or two. However, in the process ITAT is facing a shortage of lawyers. It has suddenly discovered that there arent enough tax lawyers in the city. Often judges have to be politely told that the lawyer is busy in other courts, said an ITAT member. On an average, 15-20 cases are adjourned in a day because of non-availability of tax lawyers. This, he said, is an opportunity to bright new comers. When the ITAT started an additional bench for small and covered issues, a whole new bunch of chartered accountants and lawyers who have never appeared before ITAT were seen appearing for clients.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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