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TMI BlogMonetary Limits for Filing appeals by the Department [ From 15.03.2024 ]X X X X Extracts X X X X X X X X Extracts X X X X ..... 3: Board's letter in F.No.279/Misc. 142/2007-ITJ (Pt) dated 20.08.2018 Monetary Limit - Appeals/ SLPs, not falling in the exceptions as detailed in para 3 of the Circular No. 05/2024 Dated 15th March 2024 , shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder: 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 Revised Monetary Limit - Further enhancement of Monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court: amendment to Circular 5 of 2024 dated 15.03.2024. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her than the provisions contained in section 115JB or section 115JC (herein called general provisions); B = the total income that would have been chargeable had the total income assessed as per the general provisions been reduced by the amount of the disputed issues under general provisions; C = the total income assessed as per the provisions contained in section 115JB or section 115JC ; D = the total income that would have been chargeable had the total income assessed as per the provisions contained in section 115JB or section 115JC was reduced by the amount of disputed issues under the said provisions: However, where the amount of disputed issues is considered both under the provisions contained in section 115JB or section 115JC and under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is not filed only on account of the tax effect being less than the monetary limit specified above , the Pr. Commissioner of Income-tax/ Commissioner of Income-tax shall specifically record that, Even though the decision is not acceptable, appeal is not being filed only on the consideration that the tax effect is less than the monetary limit specified in the CBDT Circular dated . Further, in such cases, there will be no presumption that the Income Tax Department has acquiesced in the decision on the disputed issues. The Income Tax Department shall not be precluded from filing an appeal against the disputed issues in the case of the same assessee for any other assessment year, or in the case of any other assessee for the same or any other a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith the following exceptions where the decision to appeal/file SLP shall be taken on merits, without regard to the tax effect and the monetary limits : a. Where any provision of the Act or the Rules or notification issued thereunder has been held to be constitutionally invalid, or b. Where any order, notification, instruction or circular of the Board or the Government has been held to be illegal or ultra vires the Act or otherwise constitutionally invalid, or c. Where the assessment is based on information in respect of any offence alleged to have been committed under any other law received from any of the law enforcement or intelligence agencies such as CBI, ED, DRI, SFIO, NIA, NCB, DGGI, state law enforcement agencies such as State Police ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... here dispute relates to the determination of the nature of transaction such that the liability to deduct TDS/TCS thereon or otherwise is under question, or ii. Appeals of International taxation charges where the dispute relates to the applicability of the provisions of a Double Taxation Avoidance Agreement or otherwise m. Any other case or class of cases where in the opinion of the Board it is necessary to contest in the interest of justice or revenue and specified so by a circular issued by Board in this regard. Attention is drawn to Circular No. 8/2023 dated 31.05.2023 in respect of deferral of appeals u/s 158AB of the Act. Exceptions in such cases operate as follows: a. When judicial finality is achieved in favour of Revenue in the ' ..... X X X X Extracts X X X X X X X X Extracts X X X X
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