CBDT Constitutes 6-member Panel To Reduce Income Tax Disputes
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The Central Board of Direct Taxes (An estimated tax revenue of Rs four lakh crore is locked up in litigation. The empowered committee will also suggest measures to reduce legal cases and submit its report in eight weeks.
"It has been decided to constitute a committee to appraise the efficacy of existing dispute resolution forums of Commissioners of I-T (Appeals) and
According to the terms of reference issued by the CBDT, the committee will carry out detailed analysis of appellate orders and assessment orders on various aspects and suggest measures to reduce litigation before CIT (Appeal).
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There is a four-stage grievance redressal and litigation mechanism available to a taxpayer, beginning with an appeal to the Commissioner of I-T Appeals called CIT (A), up to the ITAT and subsequently to the high courts and the Supreme Court.
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