Does the last day of 2021 portend what is in store for 2022? If yes, we are in for tougher times. On 31st December, I had tweeted how chartered accountants (CA), as a community, had erupted in anger over the dysfunctional income-tax (I-T) portal on the last day for filing returns.
The order by a Canadian court to seize money collected by the International Air Transport Association (IATA) on behalf of Air India and the Airport Authority of India (AAI) marks the latest chapter in a long list of setbacks for Indian tax authorities in global courts of law.
To let the dispute with Devas drag on is to keep reminding investors how investment in India can sour on the basis of political expedience. We need to remove this weakness, and change the public narrative around it.