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Tax disputes worth Rs 97,000 crore under new amnesty scheme Vivad se Vishwas Scheme has received 15 times better response in comparison to Direct Tax Dispute Resolution Scheme (DTDRS) in 2016; the disputed amount settled under it is 153 times that of DTDRS Dipak Mondal | February 6, 2021 | Updated 01:35 IST The direct tax dispute resolution scheme, Vivad se Vishwas 2020, has received encouraging response so far. Tax disputes involving Rs 97,000 crore have come for settlement under the scheme, sources from the Revenue Department said. So far, 125,144 cases have come for settlement under the s...

he helped select nominees to New York’s highest court NEW YORK – January 13, 2021 – Alan Mansfield, a beloved and highly respected New York litigation attorney who helped shape the New York State Court of Appeals as a 25-year member of the New York State Commission on Judicial Nomination, passed away January 11, 2021. He was a member of the Executive Committee at global law firm Greenberg Traurig, LLP, where he had also served as the co-chair of the firm’s Global Litigation Practice. Mansfield joined the law firm in 1994 as the 11 th attorney in its then nascent New York City office, ...

A taxpayer's intentions at the time of a transaction will significantly influence a court's opinion The Madras High Court delivered a judgment on tax avoidance in the case of Redington India Limited (company) on December 10 2020. The company had transferred its entire holding in an overseas company to another newly incorporated step-down overseas subsidiary without consideration. It claimed the transaction as a gift and, thus, non-taxable under domestic tax law. The case before the Madras High Court mainly involved whether the transaction was a valid gift as per domestic laws, and hence out...

Union Budget 2021 | Focus on growth, look at fiscal management from a 3-year perspective: CII to FM Nirmala Sitharaman The CII, in its recommendations for Union Budget 2021 to Finance Minister Nirmala Sitharaman, has said the government expenditure should be prioritised in three areas: infrastructure, healthcare, and sustainability, and that disinvestment and monetisation of assets can bring in revenues at a time when tax revenues have fallen sharply. December 16, 2020 / 09:30 AM IST The Confederation of Indian Industry (CII) has forwarded a three-pronged strategy for Union Budget 2021, ce...

A theft from the tax authorities. according to one expert germany's tax office alone could have lost at least thirty one point eight billion euros the amount was previously thought to be only around five the new estimates suggest france lost at least seventeen billion euros italy four point five and denmark one point seven billion euros at least six other countries could also be affected. the loophole was closed in two thousand and twelve but many questions remain unanswered such as when germany informed other countries about the comics dealings the case is firing up those demanding a stronger...