Govt Withdraws Appeals for Tax Affect Below Rs 10 Lakhs , HC Rs 20 Lakhs & SC Rs 25 Lakhs

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In a very welcome move, government has decided that all appeals t Income Tax Appellate Tribunal i.e ITAT where the tax effect is below RS 10 Lakhs . Similarly , the appeal to HIGH Courts and Supreme courts are going to be withdrawn if the tax effect is below Rs 20 Lakhs and 25 lakhs . So , all SLPs where the tax effect is below that limit , shall also be withdrawn. Along with this , no new appeal shall be made to the ITAT , High Court and Supreme Court if the tax effect is below that monetary limit.

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