CBDT raises limit for appeals in IT Appellate Tribunal to Rs 50 lakhs

CBDT raises limit for appeals in IT Appellate Tribunal to Rs 50 lakhs

  • The Central Board of Direct Taxes (CBDT) has increased the monetary limits for the filing of appeals by the Income Tax Department at various tribunals in order to reduce litigation.

  • For filing an appeal before the Income Tax Appellate Tribunal the monetary limit has been increased from Rs 20 lakh to Rs 50 lakhs.

  • For High Court, the appeal limit has been increased from Rs 50 lakhs to Rs 1 crore. For Supreme Court, the appeal limit has been increased from Rs 1 Crore to Rs 2 Crore.

Source: Economic Times

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