SPRING 2015 SOLVED ASSIGNMENT # 02 BUSINESS TAXATION CODE 456
Solved 2nd assignment of business taxation, we mean subject code 456 for B.Com students. The second solved assignment is related with income tax and sales tax laws, the first solved is about function of appellate tribunal inland revenue.
Following are the basic functions of appellate tribunal inland revenue.
1) REULATION OF OWN PROCEDURE:- According to section 130(2), the appellate tribunal has power to regulate its own procedure.
2) PERFORMANCE OF ATIR:- Powers and functions of the ATIR are exercised and discharged with the help of benches.
3) ESTABLISHMENT OF BENCHES:- Benches of the ATIR are constituted by the chairperson out of the judicial and accountant members.
4) Placement of benches:- ATIR shall decide that where the Benches of the ATIR shall hold their sittings.
5) Decision of Appeal:- Appellate tribunal shall decide the appeal with the help of benches.
6) APPOINTMENT OF ADDITIONAL MEMBERS:- Where the members are equally divided in their opinion in decision of appeal, the matter is referred to the chairperson of the ATIR. Chairperson shall appoint one or more additional members of the tribunal for hearing of disputed point.
7) Decision by the Chairperson:- The chairperson or any other authorized member on behalf of the chairperson may singly dispose off any case; where the amount of tax or penalty involved does not exceed one million rupees.
8) Power of Final Decision:- Decision of the appellate tribunal on a point of fact is final. If the decision involves point of law, it may be referred to the High Court.