Stay applications can provide relief to taxpayers who have been served a tax demand. In this post, we take a look at how quickly the stay applications are processed in the Income Tax Appellate Tribunal in Mumbai. What is a stay application? Imagine you get a notice from the Income Tax Department demanding more tax. … Continue reading Stay Applications – a Short story
As we highlighted in an earlier article, there is a big burden of disputes on our economy. The government does realise this, and routinely takes measures to curb the problem. In this article, we will look at three measures in particular. Data used for analysis: The impact is calculated based on data from Income Tax Appellate … Continue reading Effect of Tax-Effect
The Comptroller and Auditor General (CAG) report for the year that ended in March 2016, mentioned that the amount locked in pending tax cases is close to INR 8 trillion, and it is estimated that the government pays INR 50 billion as interest on the disputed tax deposited by the assessee in ITAT. An overwhelming … Continue reading The Burden of Disputes!