INCOME—TAX APPELLATE TRIBUNAL
- The Income- Tax Appellate Tribunal was established in January 1941.
- Section 252 of the Income-Tax Act, 1961 provides that the central government shall constitute an Appellate Tribunal consisting of as many judicial members and accountant members as it thinks fit.
- The Income Tax Act, 1961 further provides that a Judicial Member of the Tribunal shall be a person, who has for at least 10 years held a Judicial Office in the territory of India or has been a Member of the Central Legal Service and has held a post in Grade-II of that Service or any equivalent or higher post for at least three years or who has been an Advocate for at least ten years.
- An Accountant Member shall be a person, who has for at least 10 years been in practice of Accountancy as Chartered Accountant or as Registered Accountant or who has been a Member of the Indian Income Tax Service, Group A and has held the post of (Additional) Commissioner of Income-tax for at least three years.
- The present sanctioned strength of Members of Tribunal is 126 for 63 Benches spread over 27 cities throughout the country.
- The Tribunal is presently headed by the President assisted by 1 Senior Vice-President and 9 Vice-Presidents.
APPELLATE TRIBUNAL FOR FOREIGN EXCHANGE
- The Appellate Tribunal for Foreign Exchange was established in June 2000 under Section 18 of Foreign Exchange Management Act (FEMA), 1999.
- Any person aggrieved by an order may prefer an appeal to the Appellate Tribunal that may be filed within 45 days from the date of receiving the order.
- The Appellate Tribunal shall consist of a Chairperson and such number of members as the Central Government may deem fit.
- The Benches of the Appellate Tribunal shall ordinarily sit in New Delhi and at such other places as the Central Government may notify.
- A person who is qualified to be a Judge of a High Court or is or has been a Judge of High Court can be appointed as Chairperson of the Tribunal and a person who has been or is qualified to be a District Judge can be appointed as a Member of the Tribunal.
- Appeals which were pending before PERA Board have been transferred to Appellate Tribunal constituted under Foreign Exchange Management Act.