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

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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