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CBDT asks taxman to dispose appeals of over Rs 50-crore by year-end

The Central Board of Direct Taxes (CBDT) has directed the taxmen to dispose of appeals cases where the tax demand is above Rs 50 crore on priority by the year-end. “Litigation is not only a cost on the credibility of a tax administration system but also an indicator of the robustness and fairness of a system of taxation. Litigation has been rising over the years and has now assumed grave proportions,” CBDT said. CBDT said the demand “involved in appeal” before the first appellate authority of the department (Commissioner of Income Tax Appeals) as on April 1, 2018, is Rs 6.38 lakh crore. Out of this amount, higher appellate bodies like the ITAT, high courts and the Supreme Court have stayed a demand of Rs 87,035 crore, till the same time period, it said.

Read More at The Financial Express News date : 23 Jul 2018, Monday

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