1903/1992. - Income Tax - 1903/1992

INSTRUCTION NO. 1903/1992 Dated: October 28, 1992 Reference is invited to refer to Board's Instructions No.1573 and 1612 issued from F.NO.279/26/83-ITJ on 12-7-84 and 6-4-85 respectively where in monetary limits of Rs.10,000 for departmental appeal (in Income-tax matters) before the ITAT, Rs.30000 for filing reference to the High Court and Rs.60000 for filing appeal to the Supreme Court were laid down. 2. The Board has since reconsidered the matter and it has been decided that the monetarylimits be enhanced as follows: Monetary limit Rs. i) Appeal before the ITAT(Income-tax matters) 25000 ii) Reference before the High Courts 50000 iii)Appeal in the Supreme Court 150000 3. The above monetary limits will apply to appeals/references filed after 1-11-1992. The other guidelines as laid down in Board's Instructions No.1777 dated 4-11-87(F.NO.279/110/87-ITJ) for computing the tax effect etc. will continue to be applicable(except with regard to para 3(v)(c) regarding litigation with public sector undertakings for which instructions separately issued vide F.NO.279/22/91-ITJ dated 17-3-92 will have effect).