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: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ACCOUNTING STANDARDS :: cpt :: due date for vat payment :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: form 3cd :: TDS :: ACCOUNTING STANDARD :: empanelment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4%
 
 
« General »
 Govt sets up task force to review income tax laws
 Tax queries: Contact employer to get Form 16 error rectified
 Finance Ministry may hike monetary limit for filing tax appeals
 Compilation of all notifications issued ON
 Banking transaction tax to have cascading effect: NIPFP
 While filing tax in India, NRIs do not have to state overseas income
 Tax ease on cards, some daily use items may become cheaper
 It’s one year of GSTN, too
 SBI home, auto loan interest rates cut, set to be effective from Nov 1
 MNCs will have to furnish extra disclosures from March 2018
 High Court Allows Woman To File Income Tax Returns Without Quoting Aadhaar

CBDT sets up technical panel to firm up legal views on major cases
September, 01st 2012

The Central Board of Direct Taxes (CBDT) has decided to set up a committee comprising senior officials of the Finance Ministry and the Income-Tax Department to look into the legal intricacies involved in some of the contentious and controversial cases of the likes of the Vodafone dispute that the taxmen are confronted with.

The objective of setting up a Central Technical Committee (CTC), according to an official note, is to usher in clarity on contentious legal issues and, thereby, reduce litigation through adoption of a consistent approach on similar matters of taxation.

It has been observed that a large part of litigation in the direct taxes matters involves interpretation of legal provisions. Lack of desired clarity on contentious legal issues among the officers of the department sometimes leads to inconsistent approach on the same issue, giving rise to further litigation. With a view to providing clarity on contentious legal issues, promote consistency of approach on a given issue and reduce litigation, it has been decided to set up an institutional mechanism to formulate departmental view, the note said.

The CTC, as per the CBDT decision, is to be headed by a Joint Secretary-level official, and its members will consist of senior I-T officials. A Regional Technical Committee (RTC), comprising local tax officials, will act as the sub-office of the CTC.

According to Finance Ministry sources, the CTC will look into cases involving large revenue implications or strategic legal ramifications and analyse divergent views from all units of the I-T Department such as investigation, assessment and pricing before a legal reply is filed in the high courts or the Supreme Court.

The CBDT note stated that the regional units would prepare a case paper before referring any controversial case to the CTC.

The CTC shall examine the said judgment on priority to decide as to whether filing of Special Leave Petition to the Supreme Court will be adequate response for the time being or some legislative amendment is called for, it said.
 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

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