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News INCOME TAX

  • Sep 07, 2019
  • File appeals in organised tax evasion cases; don't stick to monetary threshold: CBDT

    The CBDT directed the income tax authorities on Friday to pursue the cases of "organised tax evasion" through long-term capital gains (LTCG) or short-term capital loss (STCL) in courts as it set aside the condition of sticking to the established monetary limits for filing appeals. A Central Board of Direct Taxes (CBDT) order accessed by the decision was being taken after "several references" were received by the board, where a large number of cases of organised tax evasion through LTCG and STCL on penny stockswere noticed.