Quick Summary
The Central Board of Direct Taxes (CBDT) has released Circular No. 5/2024 dated March 15, 2024, under Section 268A of the Income-tax Act, 1961, presenting comprehensive guidelines for the Departments appeal filings before various judicial bodies. The circular, aimed at reducing litigation, references previous circulars and a board letter to streamline the appeal process before the Income Tax Appellate Tribunal, High Courts, and the Supreme Court. Official copy of the circular has been mention
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FAQ :
The main goal is to streamline the process of departmental appeal filings and reduce tax litigation.
The monetary limits are £50 lakh for appeals before the Income Tax Appellate Tribunal, £1 crore before High Courts, and £2 crore before the Supreme Court.
Yes, appeals can be filed regardless of monetary limits in cases involving constitutional invalidity, illegal government orders, serious offences, pending prosecutions, adverse judicial comments, unquantifiable tax effects, undisclosed foreign income, organised tax evasion, court mandates, writ matters, or other specific tax types.
'Tax effect' is defined as the difference between the tax on the assessed total income and the tax if the income was reduced by the disputed amount, including surcharge and cess, but generally excluding interest unless interest chargeability is the dispute.
No, the department does not implicitly accept the decision. It clarifies that appeals may not be filed solely due to the tax effect being below the specified monetary limit, and the department reserves the right to appeal in other assessment years or for other assessees if the tax effect exceeds the limits.
The circular comes into effect from its issue date, March 15, 2024, and applies to Special Leave Petitions (SLPs) and appeals to be filed henceforth.
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