Friday, August 9, 2019

Monetary limits for filing of appeals by Income Tax Department further enhanced by CBDT

Ministry of Finance

Monetary limits for filing of appeals by Income Tax Department further enhanced by CBDT

There is a substantial pendency of appeals of the Income Tax Department before various appellate fora. The CBDT is aware of the importance of litigation management and has been continuously working towards achieving the same.

To effectively reduce taxpayer grievances/litigation and help the Department focus on litigation involving complex legal issues and high tax effect, the monetary limits for filing of appeals by the Department were last revised on 11th July,2018 vide CBDT Circular No.3 of 2018. As a step towards further management of litigation by the Government,  the monetary limits for filing Departmental appeals before various appellate fora including ITAT, High Court & Supreme Court have been revised as under:

Appellate Forum
Existing Monetary Limit(Rs.)
Revised Monetary Limit(Rs.)
Before Income Tax Appellate Tribunal
20,00,000
50,00,000
Before High Court
50,00,000
1,00,00,000
Before Supreme Court
1,00,00,000
2,00,00,000

This will further reduce time, effort and resources presently deployed in litigation to focus on issues involving litigation of substantial value.
****
RCJ/HP

Source: PIB

0 comments:

Post a Comment

Now Trending

Central Government Employees DA (28%) Order from July 2021 PDF Download

DA to Central Govt Employees from July 2021 - FinMin Order DA to Central Govt Employees from July 2021   Central Government Employees D...

Disclaimer:

All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. Our blog "Central Government Staff news" accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog.

Links to other websites that have been included on this blog are provided for public convenience only.

The blog "Central Government Staff news" is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Any suggestions write to us
centralgovernmentnews@gmail.com