Tuesday, January 26, 2016

Commemorative Stamp on Income Tax Appellate Tribunal – 24th January 2016.

Income Tax Appellate Tribunal (ITAT) is a quasi judicial institution set up on 25th January, 1941 by virtue of section 5A of the Income Tax Act, 1922 and specializes in dealing with appeals under the Direct Taxes Acts. 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. Starting in 1941 with six Members constituting three Benches - one each at Delhi, Kolkata and Mumbai, the numbers of Benches have progressively increased and presently ITAT has 63 Benches at 27 different stations covering almost all the cities having a seat of the High Court. Since its establishment, ITAT is functioning more or less on similar lines except for necessary consequential changes introduced on account of its expansion and extension of its jurisdiction. There have been no fundamental changes either in the constitution or the functioning of the Tribunal in the Income Tax Act, 1961.

Income Tax Appellate Tribunal is celebrating its platinum jubilee this year. The President of India, Shri Pranab Mukherjee inaugurated the opening ceremony of the Two Day Platinum Jubilee Celebrations of Income Tax Appellate Tribunal at Convention Hall, Ashok, Chanakyapuri, New Delhi on 24th January, 2016. On the occasion President Shri Pranab Mukherjee released a Commemorative Stamp on Income Tax Appellate Tribunal in presence of The Union Minister for Law & Justice, Shri D.V. Sadananda Gowda, the Chief Justice of India, Shri Justice T. S. Thakur and Secretary (Posts) & Chairman PS Board Ms. Kavery Banerjee.

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