Monetary Limits for Filing appeals by the Department [From 11.07.2024 to 14.03.2024 ]

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....r Circular No. 17/2019 Dated 8th August 2019. This circular issues under section 268A of the Income-tax Act, 1961 S. No. Appeals/SLPs in Income-tax matters Monetary Limit (Rs.) 1. Before Appellate Tribunal 50,00,000 2. Before High Court 1,00,00,000 3. Before Supreme Court 2,00,00,000 - The Circular No. 17/2019 Dated 8th August 2019 does not suppressed the Circular No. 3/2018 dated 11....

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....erences have been received by the Board that in large number of cases where organised tax-evasion scam is noticed through bogus Long-Term Capital Gain (LTCG)/Short Term Capital Loss (STCL) on penny stocks and department is unable to pursue the cases in higher judicial for a on account of enhanced monetary limits. It has been reported that in large number of cases, ITATs and High Court have recogni....