Monetary limits for filing/ withdrawal of Wealth Tax appeals by the Department before ITAT, HCs and SLPs/appeals before SC through extending the scope of Circular 3 of 2018 -Measures for reducing litigation
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Monetary limits for departmental wealth tax appeals extended to wealth tax with a defined tax-effect rule and writ exception. The CBDT extends Circular No.3/2018 monetary limits to Wealth Tax appeals effective 5 February 2019, applying Para 3 thresholds mutatis mutandis. For Wealth Tax, tax effect is the difference between tax on assessed Net Wealth and tax if disputed wealth were excluded; interest is excluded unless interest chargeability is disputed, in which case interest is the tax effect. For penalty orders, tax effect is the quantum of penalty deleted or reduced. The monetary limits do not apply to writ matters.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Monetary limits for departmental wealth tax appeals extended to wealth tax with a defined tax-effect rule and writ exception.
The CBDT extends Circular No.3/2018 monetary limits to Wealth Tax appeals effective 5 February 2019, applying Para 3 thresholds mutatis mutandis. For Wealth Tax, tax effect is the difference between tax on assessed Net Wealth and tax if disputed wealth were excluded; interest is excluded unless interest chargeability is disputed, in which case interest is the tax effect. For penalty orders, tax effect is the quantum of penalty deleted or reduced. The monetary limits do not apply to writ matters.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.