Monday, 30 July 2018

ITAT : Ahmedabad ITAT suo-moto identifies and disposes around 750 cases with low tax effect

Ahmedabad ITAT suo-moto identifies 697 cases with low tax effect and disposes off the same, pursuant to CBDT circular dated  July 11, 2018 directing withdrawal of Dept. appeals before ITAT where tax effect is lower than Rs. 20 lakh; Considering summary disposal of 697 appeals at Ahmedabad bench and 184 at Rajkot bench, ITAT knocks off  around 750 non tax effect appeals through video-conferencing.:ITAT 

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ITAT Special Bench allows deduction for provisioning made by banks on standard assets

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