Tax departments withdrew 6,599 appeals from tribunals, courts: Govt

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Tax departments withdrew 6,599 appeals from tribunals, courts: Govt - Business Standard

Quick Summary:

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.

The tax departments have withdrawn 6,599 appeals filed before tribunals, High Courts and the Supreme Court following enhancement of monetary limits for filing such cases, Parliament was informed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.

Similarly, following revised monetary limit, the Customs and the Central Excise & Service Tax departments have withdrawn 477 and 1,171 appeals, respectively.