India Post Issued Stamp on Income-tax Appellate Tribunal

By Anil Kr Pujara

itat stampIndia Post has released a commemorative postage stamp on Income-tax Appellate Tribunal ITAT on 24th January 2016.ITAT was constituted on 25th of January 1941. In pursuance of the recommendations made by the Select Committee, the Legislature introduced Chapter il-A (Section 5A) in the Indian Income-tax Act in 1941 and 25.1.1941 was notified as the appointed date from which the Tribunal came into being. Subject to minor variations consequent on the expansion of the Tribunal and extension of its jurisdiction the secfion remained unchanged in its essentials till the repeal of the Income-tax Act, 1922 with effect from 1.4.1962.itat fdc

itat brochureIn the lncome-tax Act of 1961, the constitution and functions of the Tribunal have been set out in sections 252 to 255. There is no fundamental change either in the constitution or in the functions of the Tribunal due to enactment of the new Income-tax Act.

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