Quick Summary
In accordance with the latest circular from the Income Tax Department, it has raised the minimum threshold for filing appeals to the Income Tax Appellate Tribunal (ITAT) and the High Courts and Supreme Court. According to the latest circular of CBDT, the tax department is allowed to file appeals if the disputed tax demand is more than Rs 60 lakh for ITAT, Rs 2 crore for the High Court, and Rs 5 crore for the Supreme Court. This was done in a bid to decrease the number of lawsuits and come up wi
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FAQ :
The new minimum threshold for filing appeals to the Income Tax Appellate Tribunal (ITAT) is Rs 60 lakh.
The new threshold for High Courts is Rs 2 crore, and for the Supreme Court, it is Rs 5 crore.
These new thresholds were introduced following a budget speech by Finance Minister Nirmala Sitharaman on July 23, 2024.
The primary reason is to decrease the number of lawsuits and create a mechanism for handling tax litigations of relatively small amounts at lower tiers, thereby relieving judicial bodies.
Yes, the Revenue Department can still file appeals in cases involving TDS/TCS, undisclosed foreign income, tax evasion, and other serious offenses, even if the tax demand falls below the revised limits.
The revised limits apply to all assessees and miscellaneous cases, specifically in relation to TDS and TCS. However, exceptions for serious offenses remain.
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