INCOME-TAX OFFICER, WARD - 1,, BEED vs. M/S. SIDDHESHWAR URBAN CO-OP CREDIT SOCIETY LTD,, BEED

This appeal by the Revenue arises out of the order passed by the CIT(A)-2, Aurangabad on 21-08-2017 in relation to the assessment year 2014-15. 2. At the outset, the ld. AR submitted that the tax effect in this case is less than Rs.50.00 lakh, to which the ld. DR fairly conceded.

Rs.20.00 lakh. Such limit has now been enhanced in the Circular

dated 08-08-2019 to Rs.50.00 lakh. Since tax effect in the instant

appeal is less than the revised monetary limit of Rs.50.00 lakh, we

are not inclined to entertain this appeal.

F.No.279/Misc/M-13/2018-ITJ dated 20-08-2019 has clarified that the revised monetary limits so mentioned in Circular No.17/2019

are applicable to all pending appeals. In view of the foregoing

discussion, we dismiss the appeal filed by the Revenue. However,

it is made clear that if the tax effect in this particular appeal is more than the prescribed monetary limit of Rs.50.00 lakh or the case is covered by an exception, it will be open to the Revenue to move the Tribunal for taking necessary action.

3 M/s. Siddheshwar Urban Co-operative Credit Society Ltd.,

आदेश क" क" क" "ितिलिप क" "ितिलिप "ितिलिप अ"ेिषत "ितिलिप अ"ेिषत अ"ेिषत/Copy of the Order is forwarded to: अ"ेिषत आदेश आदेश आदेश अपीलाथ" / The Appellant;

Date