Right now, criminal prosecution in income tax law gets triggered even for trivial human errors such as delays in deposit of withholding taxes, they say. These and similar other provisions do not help build an environment of trust between the taxpayer and the authorities, experts say.
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By 3:2, the majority verdict in April said that a court could go into the aspects of stamping and other compliances before the arbitrator is appointed | Latest News India
By 3:2, the majority verdict in April said that a court could go into the aspects of stamping and other compliances before the arbitrator is appointed | Latest News India
Setting aside the April verdict, the larger seven-judge bench led by Chief Justice DY Chandrachud ruled that agreements that are not stamped or insufficiently stamped are not rendered void or void ab initio or unenforceable if arbitration agreement prima facie exists between parties.