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President’s Message |
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Finance Bill 2008 shall be presented by the Finance Minister on 29th February 2008 for the financial year 2008-09. All India Federation of Tax Practitioners (AIFTP) has also made certain suggestions to Hon’ble the Finance Minister for making certain amendments in the Income -tax Act, Central Sales Tax Act and the Service Tax provisions. The copy of the representation has also been sent to Hon’ble the Law Minister and Chairman, Central Board of Direct Taxes (CBDT). We are also meeting personally the Chairman, CBDT on 18th Feb., 2008 with reference to the suggestions made by the AIFTP. The Finance Minister has desired that we should meet the Chairman, CBDT in this connection. We are quite hopeful about the simplification of the tax laws without much amendments. We have seen that Income-tax Act has undergone more than 3,000 amendments since 1961. Ambiguity of the taxation laws leads to increase of litigation. At the Federation level we have to give serious consideration to find out ways and suggest the same for early disposal of the cases on priority basis at every level. Problem of pending cases have been pointed out at the various levels by different persons, which we have to consider. In analyzing any problem one need not adopt an alarmist of pessimist attitude. After all every institution in a democratic society is bound to reflect in varying degrees its disappointments and aspirations, its cultural traits and class conflicts. These are inevitable and, to a certain extent, desirable in a pluralist developing society. There has been erosion of values in every walk of life and our tax dispensing system could not remain unaffected, at certain levels, from this epidemic. By “erosion” in this context I mean the decline in the degree of esteem and reverence for the judicial and quasi-judicial authorities on the part of the people and the decrease in the standard of authority and legitimacy over matters legal and constitutional. Therefore, ‘erosion’ can only be discussed in a relative sense and the emphasis to one or other cause of erosion depends on the value premises of the evaluator and his own understanding of the rule of the judicial and quasi-judicial authorities in democratic polity. Under the circumstances the responsibilities of Tax Professionals and Advocates have increased, since the institution is more important than the individuals who occupy it at any given point of time and the deficiencies of individuals should not be allowed to erode the status of the institution. It is, therefore, essential to adopt preventive steps for redeeming the unity of the bar and the bench and projecting a proper image of the judiciary through the thoughts and actions of every member of the bar. Lawyers and tax professionals are inseparable parts of the judicial system. They add glory, dignity and prestige to the institutions they belong. They are equal partners in the process of dispensation of justice. Their very existence is to uphold and promote the majesty of law and protect the assessees from the harassment and undue extraction of money at the hands of the authorities implementing the tax laws. With best wishes, Bharatji Agrawal |