TAXMAN WON'T RUSH TO COURT OVER PETTY SUMS

The Central Board of Excise and Customs (CBEC), the apex indirect tax body, has directed its officials that an appeal will not be filed in the appellate tribunal if the amount involved, including fine and penalty, is Rs. 1 Lakh and less. Similarly, appeals will not be filed in high courts if the disputed amount is Rs. 2 Lakh and less.