assessee
a-seh-SEE
Definition
A person or entity that is subject to taxation, specifically the party whose tax assessment is being challenged or reviewed.
Etymology
The word is derived from the legal verb 'assess,' originating from the Latin 'assessus,' meaning 'to sit by' (as an assistant judge). The suffix '-ee' was added to denote the recipient or the person affected by the action of assessment.
In the news
In this article, the assessee is the company challenging a high tax demand and the procedural conditions imposed by the Income Tax Appellate Tribunal. The term is central to the court's debate over whether an individual's right to appeal should be restricted by financial costs.
Self Executing Default Clause Creates Impermissible Fetter On Access To Justice: Calcutta HC Rules ITAT Cannot Impose Costs Condition Precedent For Adjudication of Appeal
Read the full article ↗Taxscan