Over 4.78 lakh income tax appeals pending at end of March 2019
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The number of income tax appeals pending at various judicial fora stood at 4,78,801 at the end of the financial year 2018-19, the Lok Sabha was informed on Monday.
During the Union Budget 2020 presentation, the ‘Vivad se Vishwas’ scheme was announced to provide for dispute resolution in respect of pending income tax litigation.
Pursuant to the announcement, the Direct Tax Vivad se Vishwas Bill, 2020, was introduced in the Lok Sabha last month.
In a written reply to a query in the Lok Sabha, Minister of State for Finance Anurag Thakur said that as many as 3,75,306 income tax appeals were pending before judicial fora, including high courts and the Supreme Court, in 2014-15. Such appeals increased to 4,78,801 in 2018-19.
He said the objective of the Direct Tax Vivad se Vishwas Bill, 2020, is to reduce pending income tax litigation, generate timely revenue for the government and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process. #casansaar (Source - PTI, The hindu business line)
During the Union Budget 2020 presentation, the ‘Vivad se Vishwas’ scheme was announced to provide for dispute resolution in respect of pending income tax litigation.
Pursuant to the announcement, the Direct Tax Vivad se Vishwas Bill, 2020, was introduced in the Lok Sabha last month.
In a written reply to a query in the Lok Sabha, Minister of State for Finance Anurag Thakur said that as many as 3,75,306 income tax appeals were pending before judicial fora, including high courts and the Supreme Court, in 2014-15. Such appeals increased to 4,78,801 in 2018-19.
He said the objective of the Direct Tax Vivad se Vishwas Bill, 2020, is to reduce pending income tax litigation, generate timely revenue for the government and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process. #casansaar (Source - PTI, The hindu business line)
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