The Cabinet Secretariat has issued an important Office Memorandum dated 04.02.2013 pointing out that after the disbanding (pursuant to the judgement of the Supreme Court in Electronics Corporation vs. UOI 332 ITR 58(SC)) of the Committee on Disputes (“COD”) set up to give clearance for litigation between Govt. Departments and PSUs, an attempt had been made by some Govt. Depts/ PSUs to revive the litigation even where the COD had earlier rejected clearance. The Cabinet Committee has now directed that cases where the COD had earlier rejected clearance for litigation should NOT be revived. It has also threatened that violations will be viewed seriously and may attract disciplinary action
Friday, 5 April 2013
No Revival Of PSU Litigation After COD Rejection: Cabinet Secretariat
The Cabinet Secretariat has issued an important Office Memorandum dated 04.02.2013 pointing out that after the disbanding (pursuant to the judgement of the Supreme Court in Electronics Corporation vs. UOI 332 ITR 58(SC)) of the Committee on Disputes (“COD”) set up to give clearance for litigation between Govt. Departments and PSUs, an attempt had been made by some Govt. Depts/ PSUs to revive the litigation even where the COD had earlier rejected clearance. The Cabinet Committee has now directed that cases where the COD had earlier rejected clearance for litigation should NOT be revived. It has also threatened that violations will be viewed seriously and may attract disciplinary action
Subscribe to:
Post Comments (Atom)
GAAR Not Applicable to Genuine Capital Market Transactions: Telangana High Court
In a significant ruling, the Telangana High Court held that General Anti-Avoidance Rules (GAAR) cannot be invoked merely because a transacti...
-
Slump sale is transfer of one or more business undertakings for a lump sum consideration, without assigning individual values to the each...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
Facts Centrica India Offshore Private Limited (CIO), an Indian Company, is a wholly owned subsidiary of Centrica Plc, UK Centrica Plc a...
-
SREI Infrastructure Finance Ltd vs. ITSC (Delhi High Court) The assessee entered into a scheme of arrangement u/s 391-394 of the Compani...
-
The Tax Audit season has started and it’s the time when the Assessees rush to their Chartered Accountants (CA) to get their Tax Audit d...
-
Facts The taxpayer, a partnership firm, derived income from the business of handling and transport of ship containers, customs clearing a...
-
M/s. Alpha Projects Society P. Ltd vs. DCIT (ITAT Ahmedabad) In AY 2005-06, the assessee made payments to contractors & for professi...
-
01. TDS u/s 194J is required to be done for Royalty also w.e.f 13-7-2006. 02. Royalty had been defined under explanation 2 of se...
-
F.No.354/66/2011-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs...
-
M/s. Merilyn Shipping & Transports vs. ACIT (ITAT Visakhapatnam Special Bench) The assessee incurred brokerage expenses of Rs.38....
No comments:
Post a Comment