CBDT Ups Monetary Threshold for Filing of Appeals in ITAT Cases.

The Central Board of Direct Taxes (CBDT) has sharply raised the monetary threshold for filing of appeals in tax cases before the income tax appellate tribunal, high court and Supreme Court as it looks to cut down on litigation. The threshold was last revised in July 2018. The threshold for filing appeals in Supreme Court has been doubled to Rs 2 crore, the CBDT said in a statement on Thursday. “There is a substantial pendency of appeals of the income tax department before various appellate fora. The CBDT is aware of the importance of litigation management and has been continuously working towards achieving the same,” the board said, announcing the increase in threshold. Tax authorities have been continuously making efforts to cut down on litigation.