The finance ministry's decision to significantly increase the limit for the income tax department to appeal disputes in higher forums will reduce litigation and ensure smoother transition to the proposed direct tax code, say experts.
The monetary limit for an appeal before the Income Tax Appellate Tribunal has been increased to Rs 50 lakh from Rs 20 lakh by the Central Board of Direct Taxes (CBDT).
In case of high courts, the limit has been doubled to Rs 1 crore and in case of Supreme Court, the revised limit for filing appeal has been increased from Rs 1 crore to Rs 2 crore
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