Thursday 3 October 2013

10th Nani Palkhivala Memorial National Tax Moot Court Competition, 2013


Inaugural Function

With a heritage spanning a century and a half, the Government Law College, Mumbai has dominated the legal landscape of India since its inception in 1855. This esteemed institution enjoys the distinction of being one of Asia’s oldest Law Colleges. Generations of distinguished legal luminaries who have been nurtured by this unique institution, have made a seminal contribution to the evolution of the Indian legal System.  
One such legal luminary, Mr. Nani A. Palkhivala was a legend in the field of Income Tax and Constitutional Law and a former Professor at the Government Law College for a number of years. His contribution to law and his efforts to ensure that justice is done can never be estimated.
From the past 10 years, the All India Federation of Tax Practitioners (AIFTP) and the Income Tax Appellate Tribunal (ITAT) Bar Association in association with the Moot Court Association of Government Law College has been organising a taxation based moot court competition. This competition has the distinction of being India’s first moot court competition based exclusively on the subject of Taxation. The Rounds of the competition are held at the ITAT Courtrooms itself and are judged by the Hon’ble Members and Professionals of the Income Tax Appellate Tribunal.
The inauguration of the 10th Nani Palkhivala Memorial National Tax Moot Court Competition was held at the Auditorium of Government Law College, Mumbai on the 3rd of October.
Hon’ble Mr. H.L. Karwa, President of the Income Tax Appellate Tribunal presided over the function as the Chief Guest and Hon’ble Mr. D. Manmohan, Vice-President, (Mumbai Zone) of the Income Tax Appellate Tribunal (ITAT) was the Guest of Honour for the evening. The inauguration was held in the august presence of Mr. A.P. Sathe, President, ITAT Bar Association, Mumbai; Mr S.K. Poddar, National President, All India Federation of Tax Practitioners (AIFTP), Dr. K. Shivaram, Past President, ITAT Bar Association, Mumbai and Past National President of the AIFTP.
Principal of Government Law College Mr. R.B. Malik presented the welcome address. He rightly mentioned that Mr. Palkhivala was the most important person in the history of jurists. He appreciated the efforts of the Moot Court Association as to how it singularly coordinates all mooting activities at GLC, promotes exposure to the youth and provides a very supportive environment for honing advocacy skills of the students.
Mr. A.P. Sathe while addressing the audience humbly suggested that a stamp must be issued in the memory and honour of Mr. Nani Palkhivala. Dr. K. Shivaram in his words of encouragement to the participants reiterated that the contribution of Mr. Palkhivala to law cannot be measured and students must take inspiration from his life and efforts. Mr. S.K. Poddar highlighted the importance of moot court competitions as a medium for gaining knowledge in the field of law which cannot be learnt in college classrooms.
The souvenir commemorating the event was released by the Chief Guest Mr. H.L. Karwa.
The vote of thanks was presented by Professor Sanjay V. Kadam, Chairman of the Moot Court Association and Mr. Raghav Dev Garg, General Secretary of the Moot Court Association.
Twenty six teams from across the nation are participating in this competition. The preliminary rounds shall be held on 4th of October. Eight teams shall then be proceeding to the quarter final rounds, which shall be held on the 5th of October. The top four teams shall then move to the semi-final rounds.
The finals, to be held on 5th of October at Y.B. Chavan Auditorium, Mumbai shall be presided over by Hon’ble Mr. Justice S.J. Vazifdar, Hon’ble Mr. Justice A.A. Sayed and Hon’ble Mr. Justice M.S. Sanklecha, Judges of the Bombay High Court. The Final Rounds of the competition are and will always continue to be judged by a Full Bench of sitting Judges of the Hon’ble Bombay High Court.
This year’s moot proposition is based on transfer pricing issues with regards to the issue of shares by Indian Subsidiaries to their foreign Associated Enterprises and whether these transactions must be covered under Chapter X and Arms Length Price has to be calculated on the same. Further, it also deals with secondary adjustments when a Transfer Pricing Adjustment has been made and the basis of such Transfer Pricing Adjustments.


3 comments:

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  3. Government Law College International Moot Court Competition is widely regarded as the best international in India. The moot is part of the Mooting Premier League.
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