ITSC Kolkata bench passed 250 orders in four years: Official

The Kolkata branch of Income Tax Settlement Commission (ITSC) passed 250 orders in the last four years, out of 338 new applications filed before the bench, an official said here on Tuesday.

"We have passed 250 orders in the last four years starting from 2014-15 to till April 30, 2018. There were 338 new applications filed during the period. Out of 250 orders that we have passed, in all cases immunity was granted from prosecution and in 245 applications, immunity was granted from penalty," Commission's Additional Kolkata Bench Vice Chairman D.K. Gupta said.

Penalty was imposed in only five cases, he said at an interactive session at MCCI here.

The Alternative Dispute Resolution (ADR) body in India with a mandate to resolve tax disputes in respect of Indian income tax and wealth tax laws between the two disputing parties -- the Income Tax Department on one side and litigating tax payer on the other -- has seven benches across India.

"The Commission is required to pass the settlement order within 18 months of filing of the application," he added.

--IANS

bdc/nir