Well done, Dr K Shivaram and his Team and also CTC for convincing Hon'ble Bombay High Court to direct CBDT to extend the Due Date u/s 139(1) for AY 2015-2016 from 30.09.2015 to 31.10.2015. Hopelessly do hope, the strictures passed by Hon'ble Bombay High Court on 02.10.2015 and other High Courts earlier will teach a lesson to the arrogant (for what reason?) Bureaucrats and at least not create unease of doing Business in India.
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Discussion / ITAT: Transfer of Cases from Division Bench to SMC
July 26, 2015, 11:35:33 AM
Recently, vide Circular dated 29.06.2015, the Registrar of Hon'ble CESTAT, Delhi invited all ARs to bring to his notice the cases which have stake of less than Rs. 50 Lac and which need to be transferred to Hon'ble Single Member Bench from Hon'ble Division Bench in view of the Monetary Limit of Rs. 10 Lac raised to Rs. 50 Lac vide the Amendment made by the FA, 2013.
FA, 2015 amended section 255(3) of the Income Tax Act, 1961 and the Monetary Limit of Assessed Income is raised from Rs. 5 Lac to Rs. 15 Lac with effect from 01.06.2015. Such cases with enhanced Limit are now to be heard by Hon'ble Single Member Bench instead of Hon'ble Division Bench. However, to my knowledge and as per my recent experience, the said Amendment is still to be implemented by Hon'ble Income Tax Appellate Tribunal. Nor I have received communiqué from the Registrar, Mumbai Tribunal to inform the cases to be heard by Hon'ble Single Member Bench instead of Hon'ble Division Bench with effect from 01.06.2015 in view of the enhanced Limit of Assessed Income.
I stand to correction. I shared my recent experience.
FA, 2015 amended section 255(3) of the Income Tax Act, 1961 and the Monetary Limit of Assessed Income is raised from Rs. 5 Lac to Rs. 15 Lac with effect from 01.06.2015. Such cases with enhanced Limit are now to be heard by Hon'ble Single Member Bench instead of Hon'ble Division Bench. However, to my knowledge and as per my recent experience, the said Amendment is still to be implemented by Hon'ble Income Tax Appellate Tribunal. Nor I have received communiqué from the Registrar, Mumbai Tribunal to inform the cases to be heard by Hon'ble Single Member Bench instead of Hon'ble Division Bench with effect from 01.06.2015 in view of the enhanced Limit of Assessed Income.
I stand to correction. I shared my recent experience.
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