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India s 2021 budget promises to reduce tax litigation | International Tax Review

Finance Minister Nirmala Sitharaman Sitharaman promised on February 1 to simplify tax administration, ease compliance, and reduce litigation over the coming year. “It has been the resolve of this government to reduce litigation, which mars the present taxation system,” she said while presenting her budget proposals to Parliament on February 1. After introducing faceless assessments and appeals, Sitharaman said the next step is to do the same with the Income Tax Appellate Tribunal. “We shall establish a National Faceless Income Tax Appellate Tribunal Centre,” she said. “All communication between the tribunal and the appellant shall be electronic. Where personal hearing is needed, it shall be done through video-conferencing.”

International arbitration: Hague court rules against India in retro tax case: The dispute between Cairn Energy and Indian govt, explained

Updated Dec 24, 2020 | 15:53 IST Similar to the Vodafone dispute that was decided only months ago, the one between the Indian government and Cairn involves retrospective taxation. Representational image.  |  Photo Credit: iStock Images Key Highlights India s Income Tax department had claimed that Cairn UK had accrued capital gains in excess of Rs 24,500 crore India s retrospective tax was introduced in 2012 and made any capital gains resulting from the transfer of shares from a foreign entity whose assets were located in India taxable from 1962 The case represents the second successive one that India has lost in the last three months relating to retrospective taxation

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