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: articles on VAT and GST in India :: empanelment :: due date for vat payment :: ACCOUNTING STANDARDS :: VAT Audit :: cpt :: VAT RATES :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
« From the Courts »
  Dr. Gautam Sen vs. CCIT (Bombay High Court)
 Dr. Gautam Sen vs. CCIT (Bombay High Court)
 DCIT vs. Shivshankar R. Sharma (ITAT Mumbai)
 ACIT vs. Jawaharlal Agicha (ITAT Mumbai)
 CIT vs. M/s. D. Chetan & Co (Bombay High Court)
 Makes further amendments to Notification no. 157/90-Customs dated 28th March, 1990 regarding temporary admission under the ATA Carnet
 Appointment of Common Adjudicating Authority by DGRI - 2/2016-Customs
 ransfers Of Hon’ble Members Of The ITAT (September 2016)
 M. G. Contractors Pvt. Ltd vs. DCIT (ITAT Delhi)
 Haryana State Road & Bridges Development Corporation Ltd vs. CIT (P&H High Court)
 Dharamshibhai Sonani vs. DCIT (ITAT Ahmedabad)

DTC cuts PSUs, tax dept war short
September, 04th 2010

The new direct taxes code has provisions to restrain public sector undertakings and the tax department from taking their disputes beyond a certain level, a move aimed at curbing wasteful litigation.

Under the new provisions, the two parties can appeal before the commissioner, income-tax appeal (CITA), the first appellate body on tax matters. But they are not allowed to appeal before the income-tax appellate tribunal (ITAT), the second appellate forum.

The only recourse against a CITA order will be an authority for advance ruling and dispute resolution that is proposed to be set up once DTC becomes law. The authoritys orders cannot be challenged.

Though no precise data is available to determine the number of cases filed against the PSUs, tax professionals say at least 10% of all cases filed by tax authorities are against state-run firms.

More than 25% of the revenue locked up in various stages of litigation could be in cases filed against PSUs, they say.

In the past, the Supreme Court had voiced concerns on such litigation, which according to it, was wasteful in many ways. A report published by the Law Commission in 1988 also had recommended measures to check the growing number of litigation by PSUs. The report had recommended the formation of a body that would monitor such disputes and end unnecessary litigation between PSUs and tax authorities.

The provisions proposed in the DTC are in tune with the general consensus on the need to put an end to such litigation in which everybody involved in it, except the lawyers arguing on either side, end up as losers.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

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