Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: list of goods taxed at 4% :: due date for vat payment :: VAT Audit :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: cpt :: VAT RATES :: empanelment
 
 
From the Courts »
  Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
 Jcb India Ltd. Vs. Deputy Commissioner Of Income Tax &
 Saheb Ram Om Prakash Marketing Pvt Ltd Vs. Commissioner Of Income Tax & ORS
 Tulsi Tracom Private Limited Vs. Commissioner Of Income Tax – 9
 M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)
 PCIT vs. Delhi Airport Metro Express Pvt. Ltd (Delhi High Court)
 CIT vs. Deepak Kumar Agarwal (Bombay High Court)
 Bumper quarter of mergers and acquisitions
  Pr CIT vs. Mera Baba Reality Associates Pvt Ltd (Delhi High Court)
 CIT vs. Parle Bisleri Ltd (Bombay High Court)

Over Rs 12k cr of tax demands locked in court disputes: Pranab
August, 16th 2010

Over Rs 12,000 crore in tax demands was locked on account of disputes, pending resolution at various courts, as on June 30, 2010, Parliament was informed on Friday.

While cases involving tax demand of about Rs 7,635 crore are pending in Income Tax Appellate Tribunal (ITAT), around Rs 3,849 crore is locked up in cases with High Courts, Finance Minister Pranab Mukherjee told the Lok Sabha in a written reply.

Besides, disputed matters over tax liability of about Rs 550 crore are lying with the Supreme Court, he said.

There are 4,739 cases pending in the Supreme Court, 21,568 disputes lying with High Courts and 17,522 matters with ITAT, Mukherjee said.

Recently, the Finance Minister had called the Income Tax Department as the biggest litigant and asked it to re-examine the way it handles tax disputes.

"One area of concern is litigation with taxpayers. The Department is filing appeals in a routine manner, without careful thought and examination leading to the Department earning the dubious distinction of being the biggest litigant in the Government of India," Mukherjee had said.

Later, the Central Board of Direct Taxes (CBDT) set up a committee to monitor and minimise litigations and asked its officials to look into the merits of cases before moving court.

"We have to monitor and minimise the litigation. Don't go in for frivolous litigations," CBDT Chairman SSN Moorthy had said.

In reply to another question, Minister of state for Finance S S Palanimanickam said processing of returns and issuance of refund is a continuous process in the income tax department.

Normally, after processing the returns, the refund generated is issued in due course, he said.

He said delays may be caused at times due to wrong quoting of PAN by assesses while filing tax returns, illegible recording of addresses, non-reporting of new addresses and incorrect particulars about bank accounts.

In another reply, Palanimanickam said complaints of tax evasion, including those related to the real estate sector, are received by CBDT and various field formations of the income tax department.

However, no instance of involvement of any income tax official in complaints related to tax evasion in the real estate sector has come to the notice of the government, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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