Big Update: CBDT raises Monetary Limits for Income Tax Appeals before ITAT, HC and SC, Pending Appeals below Threshold to be Withdrawn

The Central Board of Direct Taxes (CBDT) announced a significant update, increasing the monetary limits for filing income tax appeals before the ITAT, High Courts, and the Supreme Court. This move aims to reduce litigation, focusing on high-value cases, and mandates the withdrawal of pending appeals below the revised thresholds. The revised monetary limits for appeals before the Income Tax Appellate Tribunal (ITAT), High Courts, and the Supreme Court ensure the efficient use of judicial resources and aim to reduce the backlog of tax disputes. Taxpayers whose cases are below the new limits will see their appeals automatically withdrawn unless they have broader implications​