The Income tax Appellate Tribunal, Pune zone, got its third bench for Pune on Friday. The Court room 3 was inaugurated by ITAI Pune President, Justice P P Bhatt.
The ITAT established its first bench in Pune on August 9, 1971, while the second Bench was added in 2004. Pune is the fourth largest city as far as the number of pending appeals is concerned.
The new addition becomes very important with the number of appeals pending — 5,815. The third bench will initially focus exclusively on transfer pricing and international tax appeals, which are more than 350 in number.
P P Bhatt, who recently became president of the Pune zone, said, “The jurisdiction of the Pune benches of the tribunal extends to all of Maharashtra, except the jurisdiction of Mumbai and Nagpur benches, which makes the zone extremely important. Pune is a growing city. There are new business activities where many international entities are involved. We are going to focus on the appeals we get from there.”
ITAT Pune has currently acquired land for its own centre in Akurdi. “We require more facilities, more boardrooms for the members. We plan to build our own centre in Akurdi as one floor didn’t suffice the necessities,” said R R Syal, Vice-President of ITAT Pune.
The Income Tax Appellate Tribunal has 63 benches across the country.
Its Division Benches are jointly manned by a Judicial Member, who has experience and expertise in law, and an Accountant Member, who has experience and expertise in both financial and accounting matters.
The level of credibility and confidence that the Income Tax Appellate Tribunal enjoys among citizens, especially taxpayers, is highly incredible. Orders passed by the Tribunal are treated with utmost respect at international judicial forums.