The Union Ministry of Finance on 15 December 2015 raised the monetary limit for filing appeals to 10 lakh rupees in Income Tax Appellate Tribunal (ITAT) and 20 lakh rupees in High Courts. With this, the ministry seeks to reduce tax litigation by about 50 percent.
The Ministry also decided to withdraw appeals filed by I-T department in ITAT and High Courts for cases involving tax effect of below the new monetary limit. There are 75000 such cases pending in ITAT and HC.
However, he added the cases involving substantive question of law would be pursued irrespective of the monetary limit.
The Ministry also decided to set up a collegium of two Chief Commissioners to decide on withdrawal of appeals filed by the department. This collegium will consider withdrawal of appeals filed by the Department in cases involving tax effect above the revised monetary limit from the High Courts.
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When: 15 December 2015
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