New Delhi: Soon after Chief Justice of India (CJI) JS Khehar sought details from the Ministry of Finance regarding major tax cases pending with the Supreme Court so that it could decide on the important ones, experts lauded CJI's proposal and said that it would lead to a 'major reduction in pendency of tax related litigation'.
"It is not about adjudicating only one case at hand. There are about 2000 cases relating to this issue and if the apex court deals with one such case and sets a precedent then it becomes the law of the land and hence has to be followed by the other courts," said Kanabar.
"The process is a little daunting but not impossible. Certain areas need to be identified regarding which multiple litigations are pending across several forums. Like the Supreme Court verdict in the case of Disallowance of interest under Section 14A of the Income Tax Act is awaited and hence the lower courts are now collecting all cases which deal with 14A so that they can be disposed off once the apex court delivers the judgment," said Vyas.
There also have been suggestions from the industry to make this move a reality.
Sharad Kohli, Chairman of the KCC Group and a tax expert, told News18 that identifying the cases “on the basis of a monetary threshold will help in avoiding the stink of bias.”
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