824/CBDT. - Income Tax - 824/CBDT

INSTRUCTION NO. 824/CBDT Dated : January 10, 1975 Section(s) Referred: 261 Statute: Income - Tax Act, 1961 Attention is invited to the instructions contained in para 6 of the Board's letter F.No.279/189/72-ITJ dated 26.7.72 (Instruction No.442) in which it was inter-alia stated that the Board not generally approve of references to High Court/appeals before Supreme Court where revenue effect is less than Rs.5,000/15,000 unless a large number of cases is likely to be affected and an early decision is desirable. 2. The question whether the above monetary limits require to be raised has been considered by the Board. In view of the High cost of filing such reference applications/appeals inclusive of litigation charges these days, it has been decided, in partial modification of the Instruction referred to above, to raise the monetary limits for references to High Court to Rs.10,000 and for appeals before Supreme Court to Rs.30,000.