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of <h1>CBDT Sets Rs.10,000 Tax Effect Limit for New Appeals; Focuses on Resolving Blocked Appeals Post High Court Judgment.</h1> The circular from the Central Board of Direct Taxes (CBDT) addresses the monetary limit for references in tax cases following the Finance Act, 1980. It states that standard deductions for pensioners will apply from the assessment year 1981-82. The Board advises not to file fresh reference applications against adverse ITAT orders unless the tax effect exceeds Rs.10,000. A recent Punjab and Haryana High Court judgment with divergent views is highlighted, and the Board decides to contest pending appeals. Appellate authorities are instructed to resolve blocked appeals, considering the High Court's judgment in their deliberations.
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