TaxTMI 
TaxTMI 
Is the Revised Monetary Limits applicable to Assessee's Appeals?
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....s the Revised Monetary Limits applicable to Assessee's Appeals?<br> Query (Issue) Started By: - gvenugopal g Dated:- 26-2-2020 Last Reply Date:- 28-2-2020 Income Tax<br>Got 2 Replies<br>Income Tax<br>Dear Experts, Please refer Circular No.17/2019 dated 8th August 2019 issued by Central Board Direct Taxes, Judicial Section to enhance Monetary limits for filing of appeals by the Department before I....
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....ncome Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court for reducing litigation. Appellate Forum Existing Monetary Limit (₹) Revised Monetary Limit Before Income Tax Appellate Tribunal 20,00,000 50,00,000 Before the High Court 50,00,000 1,00,00,000 Before the Supreme Court 1,00,00,000 2,00,00,000 Kindly let us know whether the above Revised Monetary Limit applic....
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....able to all Assessee whoever already filed Appeal against Income tax Department? (or) the above limits is applicable for Department Appeals? Thanks & Regards: G VENUGOPAL Reply By DEV KUMAR KOTHARI: The Reply: No. This is policy decision of CBDT, applicable only for filing of appeals and withdrawal of appeals etc. revenue. For assessee, his discretion will apply and he can pursue litigation ev....
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....en for small sums of dispute, if he consider to indulge into litigation for any reason like impact in other years, impact in cases of associates on similar issue, penalty and prosecution implications etc. Reply By CASusheel Gupta: The Reply: The threshold limit is for the department only. Assessee can appeal for any amount. CA Susheel Gupta 9811004443/8510081001<br> Discussion Forum - Know....
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