The Central Board of Direct Taxes (CBDT) on Tuesday released Circular No. 09/2024, which updated the monetary thresholds for filing income tax appeals with the Income Tax Appellate Tribunal (ITAT), High Courts (HCs), and the Supreme Court (SC). The department will withdraw any pending appeals that fall below these new limits.
This amendment to Circular 5/2024 seeks to minimize litigation and enhance clarity for taxpayers. The updated monetary thresholds are now set at Rs. 60 lakh for appeals to the Income Tax Appellate Tribunal (ITAT), Rs. 2 crore for High Courts, and Rs. 5 crore for cases before the Supreme Court.
The new limits are effective immediately and apply to both new and pending appeals in the ITAT, High Courts, and Supreme Court.
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