Source: The Economic Times, Aug 08, 2019
NEW DELHI: The revenue department on Thursday enhanced the monetary limits for the filing of appeals by the Income Tax Department at various tribunals in order to reduce litigation.
The monetary limit for an appeal before the Income Tax Appellate Tribunal has been increased to Rs 50 lakh from Rs 20 lakh earlier, the Central Board of Direct Taxes (CBDT) said in a statement.
In case of high courts, the limit has been doubled to Rs 1 crore and in case of Supreme Court, the revised limit for filing appeal has been increased from Rs 1 crore to Rs 2 crore, it said.
The department said the limits have been increased to “effectively reduce taxpayer grievances/litigation and help the Department focus on litigation involving complex legal issues and high tax effect.
The CBDT noted there is a substantial pendency of appeals of the Income Tax Department before various appellate fora.
The limits were last revised in July, 2018.