With the gradual unlocking of the economy, we are witnessing a sea change in the way in which taxpayers interact with the revenue authorities, appellate forums and regulators. E-hearings and virtual presence is being considered as a de facto norm. Given this and the introduction of faceless assessments, appeals, one needs to recalibrate the approach and the expectations in terms of engaging with the revenue authorities and the impact on existing tax litigation, refunds and other proceedings.
Recently, the judiciary at the highest-level has rendered interesting rulings which can have a wide impact on the tax litigation scenario. With India’s aspiration of becoming a USD 5 trillion economy, it is widely expected that the Government implements concrete steps from a tax policy perspective to attract foreign investments, which would provide a predictable and stable tax environment to the foreign investors.
In the above backdrop, FICCI and Dhruva Advisors organised a panel discussion, wherein the panelists shared their insights on the evolving landscape of tax policy, administration and judiciary.
The panel of highly distinguished and eminent speakers comprised of:
- Mr. Pramod Kumar, Vice-President of Income Tax Appellate Tribunal
- Mr. Mohan Parasaran, Senior Advocate and former Solicitor General of India
- Mr. Patanjali, Principal Chief Commissioner of Income-tax, Mumbai
- Mr. Rasmi Ranjan Das, Joint Secretary – (FT&TR-I)
Dinesh Kanabar, CEO, Dhruva Advisors moderated this panel.
The panel discussed in detail the current economic environment and the constructive role that tax policy, administration and judiciary can play in supporting the taxpayers, in their endeavour to rebuild the businesses.
