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