CBDT revises monetary limit for ITAT/HC/SC appeals but with "guiding factor" rider

Jul 11,2014

CBDT revises monetary limits for Dept appeal filing before ITAT/HCs/SC, to Rs. 4 lakhs, Rs. 10 lakhs and Rs. 25 lakhs respectively, as a measure to reduce litigation; Threshold applicable to appeals filed on or after July 10, 2014; However, CBDT clarifies that monetary limit merely 'guiding factor', 'not the only factor', filing of appeals to be decided "strictly on merits"; Further clarifies meaning of ‘tax effect’ and directs AO to calculate tax effect for different AYs separate...


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