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: TDS :: articles on VAT and GST in India :: cpt :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARD :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: VAT RATES
 
 
« Indirect Tax »
 GST may lead to better operating profit margin for multiplex operators
 Indirect taxes must equal direct taxes
  Income Tax dept issues notices to ‘farmers’ claiming suspect agricultural income
 GST would match or be lower than the multiple indirect taxes on real estate
 Tax incidence under GST lower than current indirect taxes
 Here's the complete list of pre-GST discounts being offered by companies
 Applicability of Explanation 2 to Section 132B of the I.T. Act, 1961- reg.
 Here’s all you need to know about TDS and why it is deducted
 New indirect tax regime
 Income tax rates, tax-free limit to stay unchanged
 Revised tax reform bill to benefit consumers

SC flays Income Tax dept for delay in filing appeals
September, 18th 2012

The Supreme Court has expressed concern over the Income Tax (I-T) department's lethargy in filing appeals in tax matters, causing huge revenue loss to the government. It said the Union finance and law ministries should take immediate measures to plug the loopholes in the
 
system.

The departments failure to act despite the court's repeated reminders prompted the bench, headed by chief justice of India SH Kapadia, to draw the finance and law ministers' attention to the peculiar phenomenon of filing delayed appeals. The matter was also brought to the Attorney General's notice, the court said.

Wondering why appeals were being filed after the 90-day statutory limitation period, the court said, "In cases where huge revenue or tax demand from the department is involved, there is invariably an inordinate delay in filing appeals before the high court and this court. We do not know the reason why such inordinate delays take place only in matters of stakes. This aspect needs to be looked into.

The court's order came on the appeal of IT International Taxation, Mumbai, against Citibank NA stating that the recovery of Rs. 90 crore was delayed by 694 days. The appeal was against the Bombay High Court order. The SC observed that the revenue department had moved the court against the tax tribunal's order after 450 days.

Seeking a detailed affidavit on the action taken against errant officials in the Citibank case, the bench directed the registry to send its order, highlighting the concern to the two ministers. The court would take up the matter on September 21.

Recently, Union minister of state for finance SS Palanimanickam had revealed  that 5,806 cases involving Rs. 2,707 crore in direct tax demand were locked in litigation before the apex court, and another 29,650 cases with a tax demand of Rs. 36,340 crore were pending in high courts.

He also said 2,855 disputes over indirect taxes, involving Rs. 8,130 crore, were pending in the apex court, and 14,626 cases amounting to Rs. 11,459 crore were pending in various high courts.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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