NCLAT: Unenforced Equitable Mortgage is Corporate Debtor’s Asset, Not to Be Treated as Margin Money || NCLT Approves Hindustan Unilever’s Ice Cream Business Demerger into Kwality Wall’s || Supreme Court: Bar Councils Cannot Charge Over Rs 750 for Enrollment or Withhold Applicants’ Docs || SC Cancels POCSO Conviction, Observing Crime Resulted from Love, Not Lust, After Marriage || Supreme Court: Advocates Can be Summoned Only under S.132 BSA Exceptions with Prior Officer Approval || Allahabad HC: Juvenile Conviction Cannot be Treated as Disqualification for Government Jobs || Delhi HC: DV Act Rights of Daughter-in-Law Cannot Deny In-Laws’ Right to Reside in Home || Delhi HC: Waitlist Panel Cannot Be Segregated, Vacancies Must Be Filled From Valid Waitlist || Delhi HC: Matrimonial FIR Cannot Be Quashed If Couple’s Settlement Agreement is Not Executed || Delhi HC Bars All India Carrom Federation from Using “India” or “Indian” in its Name

CBDT Initiatives for reducing tax litigation- (Ministry of Finance ) (15 Dec 2015)

MANU/PIBU/1803/2015

Direct Taxation

The Central Board of Direct Taxes released a Circular revising monetary limits for filing of appeals by the Department with the objective of reducing litigation. The monetary limits for filing of appeals by the Department before the Income Tax Appellate Tribunal and the High Courts have been revised to tax effect of Rs. 10 lakhs and Rs. 20 lakhs, respectively, from the present limits of tax effect of Rs. 4 lakhs and Rs. 10 lakhs. The revised limits have been made applicable retrospectively to pending appeals.

Relevant : Circular revising monetary limits MANU/DTCR/0035/2015 CBDT significant decisions MANU/PIBU/1805/2015

Tags : CBDT TAX APPEAL REVISED LIMITS

Share :