Govt shouldn't reopen old tax assessment cases: Assocham
- BJP tears into UPA govt on 4th anniversary, says it lacks leadership
- Madras High Court issues notice to BCCI, Sports Minister over IPL spot-fixing
- Jessica Lal murder: Actor Shayan Munshi, ballistic expert Manocha to face perjury trial
- India seeks access from US to 26/11 terror convicts Headley, Rana
- Govt further cuts import tariff value of gold
Industry body Assocham today demanded that the government should not reopen tax assessment cases which are beyond three years as it leads to unnecessary "harassment" of taxpayers.
In its pre-budget memorandum to Finance Minister P Chidambaram, it has sought "changes in Sections 147/148 of the Income Tax Act. These sections relate to the tax re-assessment on matters already examined or in a blanket manner".
The chamber said that the re-opening of cases leads to "extreme harassment of all assessees".
It said that in recent times, tax reopening notices under the sections have become very common and such notices are being served in thousands across the country.
"It appears that there is no consideration in following the principles on the subject laid down by the Supreme Court and High Courts over the years," it added.
Assocham President Rajkumar Dhoot said the provisions relating to reopening of tax assessments are being misused in different locations, particularly for salaried assessees, where scrutiny assessment is not possible as per the CBDT (Central Board of Direct Tax) guidelines.
"This has become a breeding ground for corruption and harassment," he said.
- Fixing probe now reaches Bollywood, son of Dara Singh held
- BCCI cashes Pune Warriors guarantee, 'disgusted' Sahara walks out of IPL
- Sreesanth spent Rs 1.95L on clothes, bought friend BlackBerry, paid in cash: Police
- Delhi firm with MoD as client is linked to Pak cyberattacks
- After Infosys, iGATE sacks Phaneesh Murthy for sexual misconduct
- 2 weeks after harassment, Haryana schoolgirls return, cops in tow