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of <h1>Board Sets Monetary Limits for Second Appeals: Rs. 5,000 for Income Tax, Rs. 2,000 for Direct Taxes.</h1> The circular issued by the board addresses the monetary limits for filing second appeals to the tribunal concerning income tax matters. It states that no second appeal should be filed if the tax effect is less than Rs. 5,000 for income tax appeals and Rs. 2,000 for other direct taxes, unless the appeal involves a general question of law. For entertainment expenses, appeals should not be filed if the tax effect is below Rs. 5,000. This decision aims to reduce unnecessary appeals and conserve resources, with exceptions for significant legal questions affecting multiple cases.
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