Together with my colleagues at AIFTP, I wish you all a very Happy, Healthy and Prosperous New Year!. Hope everyone is enjoying the cool, pleasant winter of the New Year!
The pre-budget representation is already made by Shri S. R. Wadhwa, our Senior Member. This time the professionals practicing in income tax law have witnessed unprecedented high-pitched assessments concerning A.Y. 2017-18 which, incidentally, involved demonetisation period. Many issues arise as regards the quantum and the manner of the assessments. However, an issue arises as regard the retrospective operation of the amendment carried out in section 115BBE of the Income-tax Act, 1961. At AIFTP, we are in the process of making suitable representations and also of challenging such retrospective operation in courts of law, if it is advised to do so.
Last year our members practicing Indirect Tax have enjoyed the Indirect Tax Journal distributed free under the editorship of Shri Pankaj Ghiaji. From January 2020 the Journal Committee under the Chairmanship of CA Janak Vaghani has decided to make available the same facility to our members by incorporating the Indirect Tax Journal’s contents in the AIFTP Journal with no extra charge. The Journal Committee shall endeavour to incorporate maximum articles and updates, including the gist of important High Court and Supreme Court decisions every month. The regular columns under the Indirect Tax section are being designed and from lst April, 2020, the Journal Committee has assured of giving the journal an altogether fresh look with variety of contents, which I am sure, our members would find interesting and useful. I am happy to inform that Shri Pankaj Ghiya is appointed as Joint Editor of the Journal. We will continue to take the benefit of his expertise on the subject
The members who are desirous of sending their articles on Direct/Indirect Tax as also critical analysis of recent judgments/AR should intimate the Chairman of Journal Committee, Shri Janak Vaghani and/or to the Joint Editor, Shri Pankaj Ghiya,
Simultaneously, we are also planning to start ‘GST Info online’ which would be designed like ‘itatonline’ facility being used by members.
The Chairmen of all the five zones have formed Law & Representation Committee for making the representation to the local authorities on various practical and procedural aspects of Direct/Indirect Taxes. The representations will give us inputs to make further representations to the Centre.
The 2nd National Executive Committee will be held along with the Residential Refreshers Course being organized by Central Zone at Indore on 8th, 9th and 10th February 2020. The programme is well designed for the members to ensure that the members get opportunity to enrich their knowledge along with the opportunity of networking with their counterparts from all over India. I invite members to join as delegates of RRC by Central Zone.
Our Association has released a book on GAAR at the Convention held in Mumbai. The members desirous of purchasing the book may contact the Head Office.
Last but not the least, members may please note my email ID for any future communications.
Let’s welcome our members’ enthused endeavour to keep the AIFTP flag high as ever.
With best wishes,
Nikita R. Badheka
National President, AIFTP