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News INCOME TAX

  • Aug 09, 2019
  • CBDT raises monetary threshold limit for I-T dept for filing appeals

    Just a year after the Central Board of Direct Taxes (CBDT) raised the threshold monetary limit for the Income-Tax Department for filing appeals in higher judicial forums, the Board on Thursday raised the limit again “as a step towards further management of litigation”.The threshold now stands at Rs 50 lakh for appeals before the appellate tribunal in income-tax matter. Similarly, the threshold has been raised to Rs 1 crore for high court and Rs 2 crore for Supreme Court. Last year, the CBDT had raised the monetary limit for appeal in tribunal to Rs 20 lakh from Rs 10 lakh earlier. The threshold was more than doubled in case of appeal before high courts to Rs 50 lakh from Rs 20 lakh earlier. For appeal before the apex court, the limit had been raised four-fold to Rs 1 crore.