Apex court disposes of 573 direct tax appeals, nearly 5,000 tax disputes to be withdrawn

Following the Price range transfer to revise the financial restrict for submitting appeals in tax litigation issues, the Supreme Court docket on Tuesday disposed of 573 direct tax circumstances the place the tax impact is lower than ₹5 crore, the Finance Ministry stated.

Finance Minister Nirmala Sitharaman had enhanced the financial limits for submitting appeals associated to direct taxes, excise and repair tax issues to ₹60 lakh, ₹2 crore and ₹5 crore, in tax tribunals, Excessive Courts and the Supreme Court docket, respectively. These limits had been earlier pegged at ₹50 lakh, ₹1 crore and ₹2 crore, respectively.

With the Central Boards of Direct Taxes, and Oblique Taxes and Customs (CBDT and CBIC) issuing orders to execute the choice, as many as 4,341 direct tax circumstances and 1,044 legacy central excise and repair tax circumstances pending earlier than numerous appellate fora might be withdrawn over the course of time, the Ministry stated.

Almost 1,100 of those circumstances are pending with the apex courtroom. “These measures on the direct and oblique tax entrance are anticipated to considerably scale back the burden of tax litigation and expedite the decision of tax disputes. As well as, steps have been taken to deploy extra officers devoted to listening to and deciding appeals, notably these involving vital tax quantities,” the Ministry knowledgeable.