H.C.Jain & Associates- Best Legal Tax Consultants and Financial Advisor Companies in Mumbai

H.cjain14 Apr, 2021Legal

Tax Settlement Commission, a quais judicial body, was set up under section 248B of Income-tax Act 1961. It has been set up as a result of recommendations made by the Direct Taxes Enquiry Committee (Popularly known as the Wanchoo Committee). The objective of setting up this commission is to settle the tax liabilities in complicated cases avoiding endless and prolonged litigation resources of the Income-tax Department. This commission comprises persons of integrity and outstanding ability, having special knowledge of and experience in, problems relating to direct taxes and business accounts.