Srinagar October 16 (KNS): The PHD Chamber of Commerce and Industries delegation, led by its esteemed Chairman A P Vicky Shaw today had an interactive meeting with Ms Amrapali Das-IRS the Principal Chief Commissioner Income Tax department of the North West Region. The meeting was also joined by Shakil Ahamd GANIE (IRS) Deputy Commissioner Income-tax Srinagar . The meeting, which took place at Aykar Bhawan Srinagar, witnessed a threadbare discussion on various pressing matters related to Income Tax. Notable attendees included the Convenor of the PHDCCI Kashmir Banking and Taxation Committee Mushtaq Ahmad Mir, as well as esteemed members Bilal Kawoosa, Er Bilal Bhat, Sajad Shah and Iqbal Fayaz Jan-Deputy Director.
During the meeting, the Chairman of PHDCCI expressed gratitude to Principal Commissioner Das for generously providing time to the PHDCCI, allowing for a comprehensive discussion. Principal Commissioner Das, in turn, attentively listened to the concerns and issues raised by the Chamber members.
The Chamber took the opportunity to highlight several critical matters, including:
1. Disposal of Pending Appeals by NFAC: The Chamber emphasized the urgent need for the disposal of pending appeals, which have been languishing since 2019. Most of these orders were processed under Section 144 of the Income Tax Act, as the assesses were unable to appear before the assessing officers due to the shutdown following the abrogation of Article 370 of the Constitution of India.
2. Early Hearing and Disposal of 264 Petitions: The Chamber requested an expedited hearing and disposal of 264 petitions filed in cases of high-pitched demands.
3. Early Disposal of Petitions before Grievance Redressal Committee: The Chamber urged for the early disposal of petitions filed before the Grievance Redressal Committee, which is constituted at the North West Region level.
4. Suspension of Recovery Proceedings: The Chamber called for the suspension of recovery proceedings in cases where appeals have been filed before NFAC, and have been pending for over two years. Additionally, the Chamber proposed that bank accounts be released in such cases if they have been attached.
The meeting proved to be highly informative, allowing for a productive exchange of ideas. The PHD Chamber members also emphasized the importance of adopting a liberal approach towards the business community in Jammu and Kashmir. They highlighted the Chamber's commitment to adopting professional bookkeeping practices and maintaining transparent income tax accounts. This transition, however, requires a breathing period to ensure a smooth implementation.
The Chamber extends its heartfelt appreciation to Principal Chief Commissioner Amrapali Das for her valuable time and patient hearing, which facilitated a thorough discussion on these critical matters.(KNS)