·
Overview
Ministry Of Law &
Justice, vide Press Id No. 1610744 issued dated 03rd April, 2020 has
published in wake of lockdown following COVID-19
pandemic, Income Tax Appellate Tribunal begins regular interactive sessions.
The
Income Tax Appellate Tribunal (ITAT) has commenced today a series of Video
Conferences involving regular interactive sessions to productively utilise the
time available during the 21-day lockdown to tackle the COVID-19 pandemic.
The
topics of the seven interactive sessions on all working days till Monday, 13th
April, include domain as well as non-domain subjects and will have different
sessions at the National and Zonal levels, including amongst Members of bigger
multiple Bench stations. Domain topics include Income Tax and allied
laws, while non-domain subjects relate to better living viz., health,
meditation, holistic wellness etc. Members of each station have been
asked to have meetings amongst themselves on local issues relating to
infrastructure and administrative problems.
·
Emerging issues scheduled to be
deliberated upon include:
i) General Anti
Avoidance Rule (GAAR) - likely issues arising from application of GAAR in
assessments.
ii) The Direct Tax Vivad
Se Vishwas Act, 2020 - expectations of and from ITAT.
iii) Amendments in Finance
Act, 2020.
iv) Changing concept of
Permanent Establishment and Business Connection and taxation of digital economy
in the light of BEPS and legal amendments.
v) Impact of ICDS in the
assessments and issues arising thereof.
·
Fundamental issues to be discussed during the
Interactions include:
(i) Business connection.
(ii) Deemed Incomes under Section 9, FTS and
Royalties.
(iii) Permanent Establishment and Profit
Attribution.
(iv) Case studies - the impact of some
important judicial precedents - key takeaways.
(v) Reopening of assessment and revision of
assessment.
·
Non-domain subjects lined up for the Interactions
include:
(i) Art of Living - facing pandemic lockdown
with positivity.
(ii) Work from Home (WFH) - an opportunity to
maintain work-life balance.
(iii) Yoga tips.
Disclaimer:
IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT,
SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION
WITH THE USE OF THIS INFORMATION
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