Thursday, September 29, 2022

Monetary limits for filing of appeals by IT Dept Revised

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New Delhi: The monetary limits for filing of appeals by the Income-tax Department have been revised by Central board of direct taxation (CBDT). The step is being seen as an effort to further reduce the number of litigations and facilitate ‘Ease of doing business’ in India. “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” said a press release issued by the ministry of finance.

In order 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 income tax were last revised on July 11, 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 follows:

  • The Existing Monetary Limit for appeal before Income Tax Appellate Tribunal was Rs 20,00,000 which has further been revised to Rs 50,00,000.
  • The monetary limit for appeal before High Court was Rs 50,00,000 which has now been doubled to Rs 1 Crore. Similarly, before the Supreme Court, the monetary limit has been doubled from Rs 1 Crore to Rs 2 Crore.

“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”

A press release issued by the ministry of finance said “This will further reduce time, effort and resources presently deployed in litigation to focus on issues involving litigation of substantial value.”

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