Twitter
Advertisement

Over 600 I-T appeals dismissed in a single day

The total amount involved in the dismissed cases was around Rs 350 crore.

Latest News
article-main
Pic for representational purpose
FacebookTwitterWhatsappLinkedin

Giving a jolt to the Income Tax Department, I-T Appellate Tribunal, Ahmedabad, dismissed more than 600 cases of appeals filed by the I-T department in a single day. The cases were dismissed on the basis of the recent circular issued by Central Board of Direct Taxes (CBDT) on August 8. The circular had increased the threshold for filing cases in ITAT from Rs 20 lakh to Rs 50 lakh retrospectively. ITAT noted that tax effect involved in all these appeals does not exceed the revised threshold of Rs 50 lakh. 

The total amount involved in the dismissed cases was around Rs 350 crore. 

ITAT rejected I-T department’s stand that CBDT circular is not retrospective as it specifically states that the said modifications shall come into effect from the date of issue of this circular.  ITAT clarified that the CBDT’s latest circular has to be read in conjunction with a circular issued in July 2018. The Tribunal noted that increasing monetary limits offers taxpayers the freedom from prolonged mental agony and uncertainty of litigation.

The high number of cases burden the judicial system an also require more resources for the department.

Zee Media Newsroom

Find your daily dose of news & explainers in your WhatsApp. Stay updated, Stay informed-  Follow DNA on WhatsApp.
Advertisement

Live tv

Advertisement
Advertisement