Industry & Economy
-
Taxation
Tax tribunal to have powers to regulate own procedures
Our Bureau
New Delhi
,
Dec. 9
THE proposed National Tax Tribunal (NTT) would have the power to regulate its own procedures. It would be guided by the principles of natural justice and not be bound by the procedures laid down by the code of civil procedure, 1906, according to the National Tax Tribunal Bill, 2004.
The NTT Bill, which was introduced in the Lok Sabha on Monday, provides that any person including a Government agency aggrieved by the decision or order of the NTT can file an appeal to the Supreme Court within 60 days from the date of communication of the decision or order of the tribunal to him.
The NTT, which would initially have 25 benches across the country, would hear cases on substantial questions of law from the Income-Tax Appellate Tribunal (I-TAT) and the Customs, Excise and Service Tax Appellate Tribunal (CESTAT).
The Centre intends to spend a sum of Rs 7.88 crore per annum towards the 25 benches that are initially to be set up as part of the proposed National Tax Tribunal (NTT). A sum of Rs 6.80 crore is to be spent towards the total expenditure on the infrastructural requirements.
More Stories on :
Taxation
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
