‘CAs need to study facts relating to Income Tax cases’
| Date :19-Oct-2020 |
Business Bureau :
As the Revenue authorities have started reviving old and pending cases and notices are being served to the assesses. To deal with this properly the chartered accountants (CAs) need to have in-depth study of facts relating to the Income Tax cases. This was revealed by Padmashri awardee CA T N Manoharan, Chennai, Past President of ICAI, from Chennai while speaking at the webinar on ‘Income Tax - Dealing with notices and appeals’ organised recently by the Nagpur Branch of WIRC of ICAI. Meetings and enquiries with clients help to dig dipper to know more facts, he added. “Authorities can get impressed, if CA has details of clients business and deep knowledge about the case on his finger tips,” he said.
Intricacies in the business and facts need to be well known, to represent effectively before the Revenue authorities, he added. He said that dealing with the topic can be from legal point of view and from practical point of view. CA Manoharan said, “The ability to communicate the most complex things in simplest manner is the art that needs to be mastered, so as to represent effectively before the authorities.” He said, “Representation needs to be planned from our perspective before practically dealing with the same from the point of view of department.
This in effect, will provide crucial points to deal with the case and the chances of getting due justice in favour of asssessee which can be effectively ensured.” CA Advocate Kapil Goel, New Delhi, renowned faculty on Income Tax matters, appealed to the CA members to have reasonable knowledge of Constitution of India. Various important articles need to be properly studied and resorted for representing before authorities effectively, he said. CAs should study various provisions of the Code of Civil Procedure and Indian Evidence Act. These Acts would lend important points for consideration and have effective representation before authorities concerned, he added.
CA Jaydeep Shah, Past President ICAI said, “Organising back to back webinars by Nagpur Branch of ICAI is really appreciable and it also has enabled the members to listen to faculties of national repute, because of virtual meetings.” CA Kirit N Kalyani, Chairman of Nagpur Branch, in his welcome address spoke about importance and need of the webinar. “The CA members in core practice areas generally deal with around 70 per cent of clients with respect to matters concerning Income Tax. After lock down is over, it is expected to have notices for pending matters and hence, CAs need to stay updated to deal with the same. With this in mind, the programme with best possible resource persons was planned,” he added.
CA Jiten Saglani, Secretary and CA Sanjay Agrawal, Treasurer, introduced the dignitaries. CA Akshay Gulhane, Chairman WICASA, coordinated the programme. Present were CA Suren Duragkar, IPP, CA Purushottam Bhattad, CA Prafulla Bagdi, CA Habib Chimthanwala, CA Rajesh Bora, CA Bosco Dsouza and around 300 members.