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of <h1>Income Tax Appeals: Revised Monetary Limits to Reduce Litigation; Rs. 20L ITAT, Rs. 50L High Courts, Rs. 1Cr Supreme Court.</h1> The circular revises monetary limits for filing appeals by the Department in income tax matters to reduce litigation. Appeals will not be filed if the tax effect is below Rs. 20 lakh for the Income Tax Appellate Tribunal, Rs. 50 lakh for High Courts, and Rs. 1 crore for the Supreme Court. Tax effect includes the difference in tax on assessed income versus disputed issues, excluding interest unless it's disputed. Exceptions include cases involving constitutional validity, illegal Board orders, accepted audit objections, and undisclosed foreign assets. The circular applies retrospectively, and pending appeals below these limits may be withdrawn.
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