Fugitive Economic Offenders Act, 2018 received the assent of President

The Act aiming to deter the offenders who are involving in economic offences amounting minimum Rs. 100 crores from evading the process of law in India by staying outside the jurisdiction of Indian courts. The bill has been cleared by Rajya Sabha and Lok Sabha on 25th July, 2018 and 19th July, 2018 respectively and received the assent of president on 31st July, 2018. [Source: Act notified in the gazette by Ministry of Law &…

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Monetary limits for filing/withdrawal of Wealth Tax appeals by the Department before ITAT, HCs and SLPs/appeals before SC through extending the scope of Circular 3 of 2018 -Measures for reducing litigation

There is no charge under Wealth Tax Act, 1957 w.e.f 1st April, 2016. Therefore, as a step towards litigation management, it has been decided by the Board that monetary limits for filing of appeals in Income tax cases as prescribed in Circular No. 3 of 2018 dated 11.07.2018 shall also apply to Wealth Tax appeals through extension to Wealth tax matters in a mutatis mutandis manner and with modifications as prescribed. [Source: Circular No. 5/2019 dated 05th February,…

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