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In order to reduce litigations, the Income Tax Department has hiked the monetary limit for filing appeal. This will ensure better litigation management and save resources.
According to a statement issued by the Central Board of Direct Taxes, monetary limit for filing appeal before Income Tax Appellate Tribunal would be ₹50 lakh as against ₹20 lakh. Accordingly limit for filing appeal in the High Court and Supreme Court have been revised to ₹1 crore and ₹2 crore respectively. Earlier, these limits were ₹50 lakh and ₹1 crore.
“This will further reduce time, effort and resources presently deployed in litigation to focus on issues involving litigation of substantial value,” the board said while admitting that pendency is very high. The CBDT is aware of the importance of litigation management and has been continuously working towards achieving the same, it said.
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 Department were last revised in July last.
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