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Monetary Limit

ITAT Dismisses Revenue Appeal as Infructuous Due to Tax Effect Below ₹60 Lakhs [Read Order]

Sneha Sukumaran Mullakkal

The Mumbai Bench of Income Tax Appellate Tribunal ( ITAT ) dismissed the Revenue's appeal as infructuous due to the tax effect being below ₹60 lakhs,...

Calcutta High Court Dismisses CESTAT Appeal Due to Monetary Limit [Read Order]

Customs Duty Element Less than Threshold Limit: Delhi HC dismisses Appeal for Low Tax Effect [Read...

CBDT Issues Instructions on Revised Timelines and Limits for Withholding Refunds under Section...

Delhi HC quashes Time-Barred Reassessment on Escaped Income below Threshold Monetary Limit [Read...

Monetary Limit of Rs. 50 Lakhs not applicable to Notice u/s 148 unless Time Barred: Delhi HC dismisses Writ Petition by Assessee [Read Order]

In a recent decision of a Division Bench of the Delhi HIgh Court, it was held in favour of the Income Tax Department that, a notice served to the assessee under Section 148 of the Income Tax Act,...

Exception to CBDT Circular specifying Monetary Limit for filing Appeal not Applicable If Assessee provides Full Information about Foreign Income: ITAT [Read Order]

The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the exception to the circular issued by the Central Board of Direct Taxes (CBDT) prescribing the monetary limit for...

CBDT Circular prescribing Monetary Limit for Tax Appeals applies to Wealth Tax Matters [Read Circular]

The Central Board of Direct Taxes ( CBDT ) has clarified that the circular issued by the Board on July 2018 prescribing monetary limits for tax appeals would also apply to matters relating to Wealth...

No Addition If Cash Payment exceeding Monetary Limit was due to Instance of Seller: ITAT [Read Order]

The Indore bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition cannot be sustained for making cash payment exceeding monetary limit if the same was due to the instance of the...

Hike in Monetary Limit for Tax Appeals: CBIC asks Officials to Complete Withdrawal of Appeals by 31st Oct [Read Circular]

As the Government has increased the threshold limit for tax departments to file appeals in tribunals and courts in July, the Central Board of Indirect Taxes and Customs ( CBIC ) has directed the...

Hike in Monetary Limit for Tax Appeals: Dept to file Single Application in High Courts and CESTAT [Read Circular]

As the Government has raised the threshold limit for tax appeals to reduce litigation, the Central Board of Indirect Taxes and Customs (CBIC) has directed its officials to file a single application...

CBIC to fix Monetary Limit of Rs. 2,50,000 to Dept Appeals [Read Instructions]

In a bid to reduce Government litigations, the Central Board of Indirect Taxes and Customs ( CBIC ), the apex body of indirect taxes in India has decided to introduce a monetary limit of Rs. 2,50,000...