CBDT has increased the limit of amount of filing litigation at ITAT and HC
Indore : For income tax payers of Indore region, it is time for rejoice as the I-T Department has decided to withdraw 305 cases from the Income Tax Appellate Tribunal (ITAT) and the MP High Court.
A sum of Rs 7.35 crore of tax payers is likely to be out from 105 litigations currently pending in the Indore Bench of ITAT Only.
Following the circular of Central Board of Direct Taxes (CBDT), issued on December 10, 2015, the Chief Commissioner of Income Tax, Indore Region has acted in a swift manner.
The CBDT also enhanced money limit for filing appeals. Through the circular, the CBDT has increased the monetary limit for filing appeals by the department before the ITAC, HC and Special Leave Petitions before the Supreme Court. The notable aspect is that the CBDT has directed that the said instruction will apply retrospectively to pending appeals and all appeals below the specified tax limits should be withdrawn.
However, the monetary limit for filing appeals by the department before the Tribunal and the HC enhanced from Rs 4 lakh and Rs 10 lakh respectively to Rs 10 lakh and Rs 20 lakh with retrospective effect.
Chief Commissioner of Income Tax, Indore Region VK Mathur, said: “We have acted fast on this move and identified 105 cases pending in the ITAT, Indore bench, which will not press for the litigation further. Similarly, there are around 200 appeals pending in the Indore Bench of the High Court will also be withdrawn. The Principal Commissioner of Income Tax (Appeal) has written a letter to standing counsel for withdrawal of the appeals or not to press.
Sources said that according to an estimate around Rs 7.35 crore only of 105 appeals pending at ITAT out be out from the litigation.