BRING BACK POWERS OF SETTLEMENT COMMISSIONThe Settlement Commission is a high powered body established on the recommendation of wanchoo Committee. It express the view that in the administrator of fiscal law, the primary objective is to increase the revenue, there has to be a room for Compromise and Settlement.
The Finance Act 2007 has made radical alteration with regard to power, procedure and functioning of Settlement Commission.
The Amendments made by the Finance Act 2007, will result in slow death of Settlement Commission. In order to raise the revenue and to avoid trouble and by quicken the process of settlement, the Government may restore the power as it is existed before the Fiancé Act 2007 amendment
R. SUBRAMANIAN
CHARTERED ACCOUNTANT
9940023427
rsmani04@rediffmail.com
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