CBDT issues Note on Publicity campaign at IITF, 2014
The Departments public outreach on the Taxpayers Services wins laurels! The Taxpayers' Lounge set up by the Directorate of Income Tax (PRPP&OL) was awarded 'Silver' medal for excellence in display in the category of Ministries and Departments in the 34th India International Trade Fair, 2014 in the award ceremony held on 27th November 2014. The award was presented by Dr. Mahesh Sharma, Minister of State (I/C) for Culture & Tourism and Min. of State for Civil Aviation at an impressive ceremony in the presence of representatives of various foreign participants, States, PSUs, Ministries & Business organisations.
The Taxpayers' Lounge is a major step by the Department to generate awareness in the public about the various taxpayer-friendly initiatives taken by the Department. Through the Taxpayers' Lounge, various taxpayer services like e-filing of returns, viewing of tax credit through 26AS, applications for PAN and services of Tax Return Preparers were showcased to the public.
Activities such as Nukkad Natak, Magic Show, Drawing Competition and Quiz Contest to engage with school children and youth were also organized in the Lounge to generate interest and awareness about taxation in a fun manner as they are potential taxpayers of the future.
A new initiative during IITF, 2014 was the focus of the Department on outdoor branding at the fair venue in the form of wall branding, banners on electric poles and publicity through LED walls set up by ITPO at various prominent locations within the Pragati Maidan which generated independent publicity for the Department but also motivated the general public to visit the Taxpayers' Lounge. Additional publicity in the form of a Splash Screen on mobile App of IITF, 2014 was introduced for the first time alongwith a web banner ad on the Home page of IITF, 2014 which resulted in effective advertisement and publicity for the Department. As per the statistics, the number of downloads of Mobile App is 11,608 and the number of hits recorded for the IITF website exceeded one crore. The Department also invited its own ace caricature artist Shri B. Sajiv, ACIT, Coimbatore, who did 100 to 150 caricatures of the taxpayers everyday with a publicity message on every caricature. During the entire period of the trade fair approximately one lakh persons visited the Pavilion.
The Lounge was also given wide coverage by the print and electronic media.
COMPANY CASES (CC) HIGHLIGHTS
F Scheme fair and reasonable and not opposed to public interest, scheme approved and winding up proceedings stayed : Dhar Cement Ltd. (in liquidation), In re (MP) p. 366
F Grant of leave of court not adjudication of matter : Sutna Stone and Lime Co. Ltd. (in liquidation) v. Amjad Ali (Cal) p. 393
F Secured creditor entitled to contractual rate of interest for post winding up period if surplus available before distribution among unsecured creditors : LVSR Farms P. Ltd. v. Official Liquidator, High Court at Hyderabad (T & AP) p. 400
F "Member" to be understood in its widest import to include persons whose names not borne on register of members but having indefeasible right to shares : Pavan Kumar Budhia v. Jay Bee Properties P. Ltd. p. 353
F Are company directors liable under Indian Penal Code when a commercial contract is breached by the company-Dr. K. R. Chandratre p. 111
F Companies Act, 2013 : Directors' remuneration for professional services-Dr. K. R. Chandratre p. 132
F Liability of directors of private companies in respect of tax dues from such companies-Pankaj R. Toprani p. 108
F Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014 : A move ahead to harmonise Foreign Portfolio Investment in India-Ashish Patel p. 99
F Wilful defaulter of bank loan-Its perspective of legality-G. S. Dubey p. 126
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S. 147 : Reassessment – Audit objection – If AO contests the audit objection but still reopens to comply with the audit objection, it means he has not applied his mind independently and the reopening is void. [S. 148]
To satisfy ourselves, whether the reassessment proceedings have been initiated at the instance of the audit party and solely on the ground of audit objections ….. On a perusal of the files, the noting made therein and the relevant documents, it appears that the assessment is sought to be reopened at the instance of the audit party, solely on the ground of audit objections. It is also found that, as such, the AO tried to sustain his original assessment order and submitted to the audit party to drop the audit objections …. … if the reassessment proceedings are initiated merely and solely at the instance of the audit party and when the Assessing Officer tried to justify the Assessment Orders and requested the audit party to drop the objections and there was no independent application of mind by the Assessing Officer with respect to subjective satisfaction for initiation of the reassessment proceedings, the impugned reassessment proceedings cannot be sustained and the same deserves to be quashed and set aside. (SCA No. 7140 of 2014, dated 30-7-2014)
Raajratna Metel Industries Ltd. v. ACIT (Guj)(HC); www.itatonline.org
The undisputed fact is that the assessee has not deducted tax at source on the payments made to Uday Kumar Shetty. The fact that the payee has accounted for these payments in his books of account, financial statements and the same have been offered for tax in his return of income for the period relevant to A.Y. 2005-06, has not been controverted by the authorities below. In our considered opinion, since the payee/recipient has accounted for these payments in his books of account, audited u/s. 44AB of the Act and has offered the same for tax in his return of income for the relevant period, by virtue of the amendment, by way of insertion of the second proviso to section 40(a)(ia) of the Act w.e.f. 1-4-2013, the provisions of section 40(a)(ia) of the Act would not be attracted to the payments made by the assessee to Uday Kumar Shetty. In coming to this view, we draw support from the two above cited decisions of the co-ordinate benches of this Tribunal in the case of DCIT vs. Anand Marakala and S.M.Anand vs. ACIT wherein it was held that insertion of the second proviso to section 40(a)(ia) of the Act should be read retrospectively from 1-4-2005 and not prospectively from 1-4-2013. In this view of the matter, the provisions of section 40(a)(ia) of the Act is not attracted to the payments made by the assessee since the object of introduction of section 40(a)(ia) is achieved for the reason that the payee/recipient has accounted for, declared and offered for taxation the payments received from the assessee in his hands. Earlier, we have held that the second proviso to section 40(a)(ia) of the Act is retrospective in operation w.e.f. 1-4-2005. As per this newly inserted proviso, the assessee is required to file Form No.26A as per Rule 31ACB of the IT Rules, 1962 so as not to be held as an assessee in default as per the proviso to section 201 of the Act. As held in the decision of the co-ordinate Bench in the case of S.M. Anand v. ACIT (supra), since the assessee in the period under consideration i.e., assessment year 2005-06, could not have contemplated that such a compliance was to be made, we also in the case on hand, remit the matter to the file of the Assessing Officer for affording the assessee adequate opportunity to file Form No.26A and verification of whether the said payee has reflected the payment/receipt in his books of account and offered the same to tax in the period under consideration. (ITA No. 1832/Bang/ 2013, dt. 10-10-2014.)(AY.2005-06).
G. Shankar v. ACIT (Bang.)(Trib.); www.itatonline. org
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