CBDT Chief Chowdary too
Legal Corner Icon — the image was hosted by the publisher and was not captured.THE CBDT Chairman KV Chowdary also retires today after a three-month tenure as Chairman. Addressing a meeting in Mumbai recently, Chowdary said,
- If industry expected retrospective amendments to be undone, it was too much of an expectation.
- Should we allow multinational enterprises to not pay tax in any jurisdiction?
- Should a developing nation like ours not gain tax from appreciation of Indian assets?
- Shouldn't MNCs accessing large markets also contribute to the economy of those countries?
- When a law is evolving, some cases are part of the learning process.
- Some of the large corporates have deducted tax and not remitted to government account. Amounts involved are quite huge.
- For appeals filed on similar issues in different jurisdictions, Department is in the process of making a database to bring uniformity
- For cases where two views are possible based on first appeals authority order, a Department View Committee has been formed. Department View Committee will ensure that we are not blowing both hot and cold.
It is heard that Chowdary is being immediately appointed as an advisor in the Ministry to assist the Special Investigation Team on Black Money.
Happy re-tyred life Sir.