New Circular Sets Monetary Limits for Tax Appeals to Reduce Litigation and Focus on Merits Over Tax Effect. https://www.taxtmi.com/highlights?id=75955 Circular No. 05/2024, issued by the Central Board of Direct Taxes (CBDT) under section 268A of the Income-tax Act, 1961, introduces measures to reduce litigation in income tax matters. It specifies monetary limits and conditions for filing departmental appeals before Income Tax Appellate Tribunals (ITATs), High Courts (HCs), and Special Leave Petitions (SLPs) or appeals before the Supreme Court (SC). - The circular emphasizes filing appeals based on merits rather than solely on tax effect and outlines exceptions where appeals should be filed regardless of monetary limits. en-us Thu, 21 Mar 2024 16:15:06 +0530 Thu, 21 Mar 2024 16:15:06 +0530 TaxTMI RSS Generator New Circular Sets Monetary Limits for Tax Appeals to Reduce Litigation and Focus on Merits Over Tax Effect. https://www.taxtmi.com/highlights?id=75955 Circular No. 05/2024, issued by the Central Board of Direct Taxes (CBDT) under section 268A of the Income-tax Act, 1961, introduces measures to reduce litigation in income tax matters. It specifies monetary limits and conditions for filing departmental appeals before Income Tax Appellate Tribunals (ITATs), High Courts (HCs), and Special Leave Petitions (SLPs) or appeals before the Supreme Court (SC). - The circular emphasizes filing appeals based on merits rather than solely on tax effect and outlines exceptions where appeals should be filed regardless of monetary limits. Highlights Income Tax Thu, 21 Mar 2024 16:15:06 +0530 https://www.taxtmi.com/highlights?id=75955