Current Affairs PDF Sales

PM Modi Inaugurated Office-cum-Residential Complex of Cuttack Bench of ITAT in Odisha

AffairsCloud YouTube Channel - Click Here

PM-Modi-Inaugurates-Office-cum-Residential-Complex-of-Cuttack-Bench

On November 11, 2020, Prime Minister Narendra Modi virtually inaugurated the Office-cum-Residential Complex of Cuttack Bench of Income Tax Appellate Tribunal (ITAT) in Odisha to provide modern tax services.

  • This bench will also provide services to Northeast and East India as it will help the Kolkata bench (West Bengal) in meeting the pending appeal.
  • It should be noted that the Cuttack Bench of the ITAT was created and started functioning in 1970, and its jurisdiction extends to the whole of Odisha.

Key Points:

–The newly-built office-cum-residential complex of ITAT, Cuttack is spread over an area of 1.60 acres of land allotted by the Odisha government free of cost in the year 2015.

–The e-court facility will also be provided along with an e-filing portal to facilitate e-filings of documents, appeals, and other applications by litigants.

–It should be noted that during the COVID-19 pandemic, ITAT has set up virtual courts at all the benches across India which disposed of 7,251 cases against 3,778 cases filed.

Other Participants: Ravi Shankar Prasad, Union Minister for Law & Justice and Communications and Electronics & Information Technology, Shri Dharmendra Pradhan, Union Minister of Petroleum & Natural Gas and Steel, Shri Naveen Patnaik, Chief Minister of Odisha, Shri Anoop Kumar Mendiratta, Secretary, Department of Legal Affairs, Justice P.P. Bhatt, President, Income Tax Appellate Tribunal and other dignitaries.

Recent Related News:

–On June 26, 2020, the Government notified the new Floating Rate Savings Bonds (FRSB), 2020 (Taxable) Scheme in place of 7.75% Savings (Taxable) Bonds, 2018, with effect from July 1, 2020. The 7.75% Savings (Taxable) Bonds, 2018 Scheme was ceased for subscription from the close of banking business on May 28, 2020.

–On 7th May 2020, the Central Board of Direct Taxes (CBDT) amended Rule 44G of Income-tax Rules, 1962 for making an application to invoke the mutual agreement procedure in Form no.34F which will be called Income- tax (8th Amendment) Rules, 2020.

About Income Tax Appellate Tribunal (ITAT):

It is a statutory body in the field of direct taxes and its orders are accepted as final. ITAT was the first Tribunal to be created on 25th January, 1941 and is also known as ‘Mother Tribunal’.

  • President– Justice (Retd) P.P. Bhatt