CBDT raises monetary limits for filing appeals

first_imgNew Delhi: The Central Board of Direct Taxes on Thursday revised the monetary limits for filing of Income Tax appeals in various appellate fora. Issuing the new monetary limits, the CBDT said that this is a step towards further management of litigation by the government. The limit for filing appeal before the Income Tax Appellate Tribunal has been raised from Rs 20 lakh to Rs 50 lakh; the limit for filing appeal before the High Court has been increased from Rs 50 lakh to Rs 1 crore; and the limit for filing appeal before the Supreme Court has been raised from Rs 1 crore to Rs 2 crore. This will further reduce time, effort and resources presently deployed in litigation to focus on issues involving litigation of substantial value, the CBDT said in a statement.last_img

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