CBDT directs that monetary
limits for filing of appeals in income tax cases as prescribed in Para 3 of
Circular 3 of 2018, “shall also apply to Wealth Tax appeals through extension
of the Circular to Wealth tax matters in a mutatis mutandis manner,” with
certain modifications; Prescribes modification with respect to the definition
of ‘tax effect’ for the purpose of wealth tax appeals; Also states that the
monetary limits specified in para 3 shall not apply to writ matters; Lastly,
CBDT clarifies that “The said extension of the Circular to wealth tax appeals
shall come into effect from the date of issue of this Circular.”
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