Raising The Income Limit of ITAT


Raising The Income Limit of ITAT

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Raising the income-limit of the cases that may be decided by single member bench of ITAT

Raising the income-limit of the cases that may be decided by single member bench of ITAT

The existing provision contained in sub-section (3) of section 255 of the Income-tax Act provides for constitution of a single member bench and a Special Bench. It provides that single member bench may dispose of any case which pertains to an assessee whose total income as computed by the Assessing Officer does not exceed five lakh rupees. The limit of five lakh rupees for a single member bench was last revised in 1998.

Accordingly, it is proposed to amend sub-section (3) of section 255 of the Income-tax Act so as to provide that a bench
constituted of a single member may dispose of a case where the total income as computed by the Assessing Officer does not
exceed fifteen lakh rupees.
 
This amendment will take effect from 1st day of June, 2015.
[Clause 64]
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