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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Clarification on Raised Monetary Limits: Applies to New Tax Filings Only, Calculated Per Assessment Year, Not Cumulatively.</h1> The circular clarifies the application of raised monetary limits for departmental references and appeals in tax matters, as outlined in previous instructions. The raised limits apply only to new filings and not to cases already filed and pending before the Tribunal or court. Additionally, the tax effect for determining monetary limits should be calculated based on the known tax impact for each assessment year individually, rather than cumulatively across multiple years or cases involving different assessees.
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