[aaykarbhavan] FM P. Chidambaram Promises To Review Vodafone Retrospective Law & GAAR

Dear Subscriber,

FM P. Chidambaram Promises To Review Vodafone Retrospective Law & GAAR

The Finance Ministry has issued a Press Release dated 06.08.2012 in which it was stated that with a view to ensuring "Clarity in tax laws, a stable tax regime, a non-adversarial tax administration" etc, corrective measures would be taken to reassure investors. It was specifically stated that there had been "directed a review of tax provisions that have a retrospective effect in order to find fair and reasonable solutions to pending as well as likely disputes between the Tax Departments and the Assessees concerned".

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Regards,

Editor,

itatonline.org

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