The Hindu Business Line : Saturday, April 07, 2007

ECONOMY
Inflation: The unusual suspects
Dr Y. V. Reddy started his stint with the aim of cutting down the CRR to 3 per cent, though rising commodities inflation has forced him to increase it now to 6.5 per cent. But even this 6.5 per cent is way below what will truly contain inflation an d it is almost certain that he, and other central bankers, will be chasing the inflation curve for the next decade or so, says SHANMUGANATHAN N. More

TAXATION
FBT on ESOP: Inefficient and inequitable
Under the proposed tax arrangement, when the employee exercises his option, he will be subjected to FBT through the employer. More

Taxing procedure on additional evidence
In exceptional cases, on the basis of one of the grounds set out in Rule 46-A, an appellant is permitted to produce additional evidence subject to its approval by the appellate authority. More

Proposals not backed by reason
While formulating Budget proposals, proper and convincing reasons need to be given if the same are to have legitimacy and acceptability. More

Fettering the discretion of the AO
The Finance Bill, 2007 has laid down that the opinion given by the transfer pricing officer will be binding on the assessing officer, the former being an expert in matters concerning the determination of the arm's length price. More

INTERVIEW
A direct look at some indirect issues
Adjudication and appellate procedures at the Tribunal level require urgent reform. It is a fact that a fair majority of the cases decided against the assessees get reversed at the Tribunal level. More

LETTERS

Tackling inflation

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