Chidambaram transfers revenue secretary Gujral
6 Aug 2012 7:00 AM IST
The controversial revenue secretary R S Gujral has been shunted out. He has now swapped places with the expenditure secretary Sumit Bose.
This change happened right after P Chidambaram took over the finance ministry on 1 August. A senior official from the department said, 'Sumit Bose has got the formal orders to assume charge as revenue secretary and R S Gujral too have been informed to work as expenditure secretary.'
Gujral was a key member of the former finance minister Pranab Mukherjee's team, which came out with the controversial proposal of the General Anti Avoidance Rules (GAAR) for taxing overseas transitions. He was also involved in the budget proposal to amend the Income Tax Act with retrospective effect to tax overseas deals involving domestic assets.
The amendment had implication for the Vodafone case, under which the British Telecom giant may have to pay Rs 20,000 crore as capital gains tax despite winning the legal battle in the Supreme Court against it. About GAAR, the Prime Minister's Office has appointed a committee under tax expert Parthasarathi Shome to look into the concerns of foreign and domestic investors.
This change happened right after P Chidambaram took over the finance ministry on 1 August. A senior official from the department said, 'Sumit Bose has got the formal orders to assume charge as revenue secretary and R S Gujral too have been informed to work as expenditure secretary.'
Gujral was a key member of the former finance minister Pranab Mukherjee's team, which came out with the controversial proposal of the General Anti Avoidance Rules (GAAR) for taxing overseas transitions. He was also involved in the budget proposal to amend the Income Tax Act with retrospective effect to tax overseas deals involving domestic assets.
The amendment had implication for the Vodafone case, under which the British Telecom giant may have to pay Rs 20,000 crore as capital gains tax despite winning the legal battle in the Supreme Court against it. About GAAR, the Prime Minister's Office has appointed a committee under tax expert Parthasarathi Shome to look into the concerns of foreign and domestic investors.
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