FINALS AND VALEDICTORY
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 organised the 10th edition of the Nani Palkhivala Memorial National Tax Moot Court Competition, from 3-5th October, 2013.
This year’s moot proposition was 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 dealt with secondary adjustments when a Transfer Pricing Adjustment has been made and the basis of such Transfer Pricing Adjustments.
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. The souvenir commemorating the event was released by the Chief Guest Mr. H.L. Karwa.
Twenty six teams from across the nation participated in rigorous rounds to win the coveted trophy. The preliminary rounds were held on 4th of October. Eight teams based on their performance and aggregate scores qualified for the quarter final rounds, which were held on the 5th of October. Next, the top four teams including Jindal Global Law School, Sonepat; School of Law, Sastra University; NALSAR, Hyderabad and Symbiosis Law Scool, Pune proceeded to the semi-final rounds.
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. The finals, held on 5th of October at Y.B. Chavan Auditorium, Mumbai was 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. Jindal Global Law School and Symbiosis Law College, Pune were the finalists.
After an intense round of arguments and priceless words of encouragement by the dignitaries and Hon’ble Mr. Justice S.J. Vazifdar, the results were declared. The award for the Best Researcher went to Ms. Akshaya Sachin of School of Law, Sastra University. The submissions by Law Centre-I, Faculty of Law, Delhi University was adjudged as the Best Memorial. Ms. Preeti Dash of National Law University, Orissa was declared as the Best Speaker and was awarded with an internship under Mr. S.E. Dastur, Senior Counsel, Bombay High Court. The award for the Second Best Speaker went to Ms. Ritika Sinha of NLSIU, Bangalore.
The 2nd Best Team, Symbiosis Law School, Pune was awarded with a trophy and a cash prize of Rs. 10,000 along with an Internship at Economic Law Practices, Mumbai.
Jindal Global Law School, Sonepat was declared as the Best Team and was awarded with a trophy, a cash prize of Rs. 12,500 and an Internship with leading International Tax & Law Firm, Nishith Desai & Associates.
The 9th Nani Palkhivala Memorial Research Paper Competition, 2013 was held parallel to the Moot Court Competition. Mr. Anurag Soan and Ms. Shreya Ganju of Symbiosis Law School, Pune were awarded the prize for the best research paper which included gold medals, certificates and cash prize of Rs. 10,000. The 2nd position was secured by Ms. Smriti Tripathi and Mr. Vasu Nigam from National Law Institute University, Bhopal. They were awarded with silver medals, certificates and cash prize of Rs. 7500. The award for the 3rd best research paper went to Mr. Hemant Kothari from National Law University, Delhi. He was awarded with a bronze medal, certificate and a cash prize of Rs. 5000.
The event was a great success due to the help and support of the members of the ITAT, AIFTP, ITAT Bar Association and the Moot Court Association. Special thanks to Prof. Sanjay V. Kadam, Chairman, Moot Court Association and Mr. R.B. Malik, Principal, Government Law College, for their guidance and support.