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Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR.
Before: SH. LALIET KUMAR & DR. M. L. MEENA
Date of Hearing 16.09.2021 Date of Pronouncement 20.09.2021 ORDER Per Dr. M. L. Meena, AM: Vide CBDT circular 17/2019 dated 8th August 2019, the income tax department has announced its policy decision not to file, or press, the appeals, before this Tribunal, against the appellate orders favourable to the assessee in the cases in which overall tax effect, including surcharge but excluding interest, is Rs 50,00,000 or less. This monetary limit, which was Rs. 20,00,000 till 7th August 2019, has been in effect enhanced by almost 2.5 times over the last year, and the relief is retrospective in nature inasmuch as it not only applies to future appeals but also to the pending appeals.
At the outset, the ld. Counsel for the assessee submitted that the appeal of the Revenue is not maintainable being involving tax payable of Rs.48,17,592/- as per assessment order by the assessee computed which is less than Rs.50 lac. In view of the CBDT Circular No. 17/2019 dated 8th August 2019, copy of computation is enclosed hereunder:
The ld. DR has no objection for the same.
Accordingly, this appeal being a low tax effect case, dismissed in limine without going into merits accordingly this revenue appeal is dismissed.
In the light of the above discussions, and in the light of the CBDT Circular dated 8th August 2019, this appeal, being involving tax effect of less than Rs 50 lakhs, is dismissed as withdrawn.
With the above observations, the appeal filed by the Revenue stand dismissed.
Order pronounced in the open court on 20.09.2021