The Department will be recognised as a professional organisation, collecting resources efficiently, considerate towards its clients, adapting and improving and promoting voluntary compliance.
To promote compliance with our direct tax laws, through caring taxpayer service and strict enforcement and thus realize maximum resources for the Nation.
Integrity of conduct, Dedication to our duties and values, Professionalism in our work,Attitude of service to our clients and Fostering mutual confidence.
"Taxation should not be a painful process for the people. There should be leniency and caution while deciding the tax structure." Chanakya
"State Tax be such which should not prove to be a burden on the subject; the King should behave like those bees which collect honey without causing harm to the tree." Ved Vyas in his famous epic Mahabharat
Update of the week
CIT vs Raja Malwinder Singh (P&H
High Court)
Where cost of acquisition of capital asset
cannot be ascertained capital gain will be attracted by taking market value on
date of acquisition
Electronics Corporation of India Ltd vs. UOI (Supreme Court – 5 Judge Bench)Supreme Court recalls law requiring PSUs to obtain COD approval
Great Eastern Exports vs. CIT (Delhi High Court) Pursuant to s. 80-IA(9), s. 80-IA deduction to be reduced for s. 80HHC deduction
Indo Tech Electric Co vs. DCIT (Madras High Court) Form of transaction can be ignored & Corporate Veil lifted if attempt is to “evade” taxes.
If you want to do something you will find a way. If you don't want to do something you'll find an excuse. If you write down your goals and look at them often, you are more likely to achieve them. Never compromise deeply held principles - if you do, you will live to regret it.
