Stop misuse of consent route for tax benefit, says SEBI panel


“If the intent of settlement is merely to avoid any undue hardships and buy peace, without the taxpayer being convicted for any offence/wrong-doing or criminal/civil violation, then such payment may not classify as a penalty. Deeming such payment as a penalty will deter the taxpayer from taking benefit of the settlement procedures prescribed by SEBI,”

Ravi Mehta
Partner, Grant Thornton India LLP

This article appeared in The Hindu on 16th August, 2018.