Income Tax Appellate Tribunal (ITAT)

Income Tax Appellate Tribunal (ITAT)

Subject: Economy

Section: Fiscal Policy

Context:

Recently, the I.T. department froze Congress bank accounts over 2018-19 returns but the appellate tribunal provided partial relief.

About Income Tax Appellate Tribunal (ITAT):

• ITAT is a quasi-judicial institution set up in January 1941.
• It specialises in dealing with appeals under the Direct Taxes Acts.

Functions:

• It hears income tax appeals from taxpayers against orders passed by the Income Tax Authorities.
• The orders passed by the ITAT are final, an appeal lies to the High Court only if a substantial question of law arises for determination.

Benches:

• Presently ITAT has 63 Benches in 27 different states covering almost all the cities having a seat of the High Court.

Strength:

• One President, who is assisted by ten (10) Zonal Vice Presidents and 115 Members (i.e. Accountant Members and Judicial Members).
• The ITAT is headed by a President, who is appointed by the Central Government.
• ITAT is referred to as the ‘Mother Tribunal’ being the oldest tribunal in the country.