THE DY. COMMR. OF INCOME TAX, SURENDRANAGAR CIRCLE,, SURENDRANAGAR vs. THE SURENDRANAGAR MERCANTILE CO. OP. BANK LTD.,, SURENDRANAGAR

PER Ms. MADHUMITA ROY – JUDICIAL MEMBER:

The instant appeal filed by the Revenue is directed against the order dated 14.07.2015 passed by the Commissioner of Income Tax (Appeals) - 7, Ahmedabad arising out of the order dated 28.10.2010 passed by the DCIT, Surendranagar Circle, Surendranagar under section 271(1)(c) of the Income Tax Act, 1961 (hereinafter referred as to “the Act”) for the Assessment Year (A.Y.) 2007-08. 2. At the time of hearing, it was submitted by the Ld.AR for the assessee that appeal filed by the Revenue is hit by recently issued CBDT Circular No.17 of 2019 dated 08/08/2019 revising the previous thresholds pertaining to tax effects. It is inter alia Asst.Year – 2007-08 noticed that the CBDT vide Instruction No. F. No. 279/Misc/M-93/2018-ITJ dt. 20/08/2019 has observed that Circular No.17/2019 dated 08/08/2019 relating to enhancement of monetary limits is also applicable to all pending appeals. As per aforesaid Circular read with instructions, all pending appeals filed by Revenue are liable to be dismissed as a measure for reducing litigation where the tax effect does not exceed the prescribed monetary limit which is now revised at Rs.50 Lakhs. In the instant case, the tax effect on the disputed issues raised by the Revenue is stated to be not exceeding Rs.50 lakhs and therefore appeal of the Revenue is required to be dismissed in limine.

आदेश क" ""त"ल"प अ"े"षत/Copy of the Order forwarded to : 1. अपीलाथ" / The Appellant