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of <h1>CBDT Circular No. 23/2019 Allows Appeals Beyond Monetary Limits for Tax Evasion Cases Involving Penny Stocks.</h1> The Central Board of Direct Taxes (CBDT) has issued Circular No. 23 of 2019, allowing exceptions to the monetary limits set for filing departmental appeals under Section 268A of the Income-tax Act, 1961. This decision addresses cases involving organized tax evasion scams using bogus Long-Term Capital Gains or Short-Term Capital Losses on penny stocks. Despite previous monetary limits preventing further appeals, the Board now permits appeals on merits in such cases, even beyond the prescribed limits, through special orders. This initiative aims to ensure that the department can pursue cases where appellate bodies have not adequately considered the law or facts.
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