Swipe through the latest business and wealth clues with our android app

CBDT set up task force to look into ballooning tax litigations by department

The Income tax department is the country’s largest tax litigant. As on March 31, 2017, over 90,000 cases are pending with the Income Tax Appellate Tribunal (ITAT). The corresponding disputed tax demand raised in these cases aggregate to Rs 2.01 lakh crore. 85% of these appeal cases have been filed by the Income Tax department with success rate of 30%. The ITAT is the second level appellate authority after the Commissioner (Appeals). The CBDT had raised the tax effect to Rs 20 lakh from Rs 10 lakh in July 2018 for I-T department to file an appeal with ITAT.

©2019 TheNewsClues