Income tax disputes: Govt drops 23,467 appeals under higher tax-effect limits; what taxpayers need to know
The Income Tax Department withdrew 5,978 appeals and refrained from filing 17,489 more after raising monetary limits for disputes. This change, affecting cases at the ITAT, High Courts, and Supreme Court, is expected to reduce disputed tax demand by ₹16,688.68 crore. Taxpayers should note the new limits of ₹60 lakh, ₹2 crore, and ₹5 crore for appeals.