Month: September 2012

The PWC Case: So, You Can Just Plead “Some Confusion” & Escape Penalty?

The author goes ballistic over the recent judgement of the Supreme Court in PWC‘s case that s. 271(1)(c) penalty cannot be imposed if the assessee carelessly makes a wrong claim. He argues that the judgement neutralizes the deterrent effect of s. 271(1)(c) and is prone to abuse in the present regime of no scrutiny assessments. He fears that in the absence of a deterrent effect, assessees will be encouraged to ‘take a chance’ with bogus claims

Posted in judiciary

Dear Stalwarts Of The Bombay Bar, We Salute You & We Shall Emulate You!

On the occasion of the 150th Anniversary of the Bombay High Court, the author pays rich tribute to the stalwarts of the Bombay Bar who were fearless in their fight for the Country’s independence and also in the fight for preserving the basic structure of the Indian Constitution. The Tax Bar has contributed in its own little way towards the development of tax laws and the process of building the Nation while keeping the flag of the Bombay High Court flying high, says the author, and implores all professionals to emulate the Stalwarts and work for the benefit of the Nation

Posted in judiciary

Why Chidu Should Grab Vodafone’s Settlement Offer & Run

The author argues that Vodafone’s offer to settle the controversy on payment of tax and waiver of interest & penalty is a god-sent opportunity for the Government to salvage the situation. It will save the Government the ignominy of the retrospective amendments being struck down in Court and also boost its image in the International community. If handled properly, even Manmohan Singh can be made to look like a real Statesman with vision and courage, adds the author

Posted in legislation

If you are a tax professional, you must sign up for our free newsletter. Why? Because we keep you informed about the latest developments in the world of tax. We focus only on the most important must-read judgements & articles that will impact your day-to-day professional work. You can see a chronological listing of all our postings on twitter & facebook


IMPORTANT: After signing up & clicking on the confirmation mail, send a test/ blank mail to editor@itatonline.info. Why? Because it is the easiest way to add our email address to your address/ contacts book and ensure that our Newsletter does not get sent to the Spam/ Junk folder


Email



Unsubscribe