Similarly, the limit for appealing against an order in the high courts has been revised up to Rs 1 crore, from Rs 50 lakh.
Now appeals can be filed in the SC, if a tax dispute is over Rs 2 crore, against the present Rs 1 crore.
“There is substantial pendency of appeals of the I-T department
before various appellate fora. This (the decision to hike monetary limits) will further reduce time, effort, and resources presently deployed in litigation to focus on issues involving litigation of substantial value,” the Central Board of Direct Taxes said in a statement here.
The limits were last revised in July 2018.