Supreme Court: Driving Licence Renewal After a Gap Will Not Take Effect From Expiry Date || Supreme Court: High Courts Cannot Quash Cheque Bounce Cases by Pre-Trial Inquiry Into Liability || Supreme Court: Passport Renewal Cannot be Denied if Trial Court Has Permitted it Despite Pending Case || SC: Delay in Depositing Sale Balance Does not Make Specific Performance Decree Inexecutable || Supreme Court: Non-Compete Fees Qualify as Deductible Revenue Expenditure under Income Tax Act || Supreme Court: Section 311 CrPC Should be Invoked Sparingly, Only When Evidence is Vital || J&K&L High Court: Successive Bail Applications Can Be Filed Even Without Change in Circumstances || Kerala HC: Fresh Arbitration Notice is Required For Second Arbitration After Prior Award Set Aside || NCLT Hyderabad: Mortgaging Property Without Lending Money Does Not Constitute Financial Debt || Supreme Court: Vacancies From Resignations under CUSAT Act Must Follow Communal Rotation

CBDT Initiatives for reducing tax litigation- (Ministry of Finance ) (15 Dec 2015)

MANU/PIBU/1803/2015

Direct Taxation

The Central Board of Direct Taxes released a Circular revising monetary limits for filing of appeals by the Department with the objective of reducing litigation. The monetary limits for filing of appeals by the Department before the Income Tax Appellate Tribunal and the High Courts have been revised to tax effect of Rs. 10 lakhs and Rs. 20 lakhs, respectively, from the present limits of tax effect of Rs. 4 lakhs and Rs. 10 lakhs. The revised limits have been made applicable retrospectively to pending appeals.

Relevant : Circular revising monetary limits MANU/DTCR/0035/2015 CBDT significant decisions MANU/PIBU/1805/2015

Tags : CBDT TAX APPEAL REVISED LIMITS

Share :