Union Budget 2024-25 provided for an enhanced monetary limit for filing appeals related to Direct Taxes, Excise and Service Tax in various judicial fora
Hon’ble Supreme Court disposed of 573 direct tax cases in view of the revised monetary limit for filing off appeals
The measures are expected to significantly reduce the burden of tax litigation and expedite the resolution of tax disputes in alignment with Government’s efforts to promote ‘Ease of Living’ and ‘Ease of Doing Business’CBDT and CBIC had issued necessary orders for implementation of the amendment
The Hon’ble Supreme Court disposed off 573 direct tax cases where the tax effect is less than ₹5 crore, in view of the revised monetary limit of filing of appeals.
This significant milestone aligns with the government’s efforts to reduce tax litigation and promote Ease of Doing Business.
The Union Budget 2024-25 provided for an enhanced monetary limit for filing appeals related to Direct Taxes, Excise and Service Tax in the Tax Tribunals, High Courts and Supreme Court and the limits were increased to ₹60 lakh, ₹2 crore and ₹5 crore respectively.
In pursuant to the Budget 2024-25 announcement, the CBDT and CBIC had issued necessary orders to enhance the monetary limit for filing appeals in their respective domains. As a result, it is expected that the cases pending before various appellate fora will come down and reduce tax litigation.
In addition, steps have been taken to deploy more officers dedicated to hearing and deciding income tax appeals, particularly those involving significant tax amounts. These initiatives reflect the government’s commitment to improve the ‘Ease of Living’ and ‘Ease of Doing Business’ across the country by reducing pending litigation.
