DEPUTY COMMISSIONER OF INCOME-TAX,, PUNE vs. ANGELICA PROPERTIES PVT. LTD.,, PUNE

This is an appeal filed by the Revenue against the order of ld. CIT(A)-1, Pune dated 09.06.2016 for the assessment year 2011-12.

At the very outset, the Ld. DR of the Revenue submitted that the tax effect involved in this appeal is below Rs.50 lakhs and therefore, the appeal of Revenue is liable to be dismissed on account of low tax effect in terms of recent CBDT Circular No.17/2019 [F No.279/Mise.142/2007-ITJ (Pt)], dated 08.08.2019 read with Circular No.3 of 2018 dated 11.07.2018 revising the upward monetary limits for filing of appeals in Income Tax Cases before various Appellate Forums. The earlier CBDT Circular No.03/2019 dated 11.07.2018 fixed monetary limit for filing of appeals before the Tribunal at Rs.20 Lakhs. Such limit has been enhanced in the recent CBDT Circular dated 08.08.2019 from Rs.20 Lakhs to Rs. 50 Lakhs. Thus, the tax effect on the addition is less than Rs.50 Lakhs.