Latest News | Tax Departments Withdraw 6,599 Appeals from Tribunals, Courts
Get latest articles and stories on Latest News at LatestLY. The tax departments have withdrawn 6,599 appeals filed before tribunals, High Courts and the Supreme Court following enhancement of monetary limits for filing such cases, Parliament was informed on Monday.
New Delhi, Mar 24 (PTI) The tax departments have withdrawn 6,599 appeals filed before tribunals, High Courts and the Supreme Court following enhancement of monetary limits for filing such cases, Parliament was informed on Monday.
In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary said CBDT has enhanced monetary limit for filing appeals by Income Tax Department before the Income Tax Appellate Tribunal (ITAT), High Courts and the Supreme Court to Rs 60 lakh, Rs 2 crore and Rs 5 crore, respectively.
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The Central Board of Direct Taxes (CBDT) has identified 4,951 appeals for withdrawal from ITAT, High Courts and the apex court.
Similarly, following revised monetary limit, the Customs and the Central Excise & Service Tax departments have withdrawn 477 and 1,171 appeals, respectively.
In case of Central Excise and Service Tax, the government has set monetary limit for filing appeals by departmental officers before Customs Excise & Service Tax Appellate Tribunal (CESTAT) at Rs 60 lakh, High Courts Rs 2 crore and Supreme Court Rs 5 crore.
In case of Customs, the threshold for filing monetary limit before CESTAT is Rs 50 lakh, High Courts (Rs 1 crore) and the apex court (Rs 2 crore).
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)