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PER PAWAN SINGH, JUDICIAL MEMBER:
This appeal by revenue under section 253 of Income Tax Act is directed against the order of ld. Commissioner of Income Tax (Appeals)-8, [CIT(A)], Mumbai dated 12.01.2018, for Assessment Year 2000-01.
At the outset of hearing, the ld. Authorized representative (AR) of the assessee submitted that the tax effect involved in the present appeal is below Rs. 50,00,000/- i.e. the monetary limit prescribed by CBDT Circular No.17/2019 dated 8th August 2019. The ld. AR of the assessee also furnished the working of the tax effect. As per the working provided by the ld AR for the assessee the tax effect is only of Rs. 23,80,337/-. The ICICI Personal Finance Services Ltd ld. AR of the assessee further submits that admittedly the tax effect involved in the present appeal is less than Rs. 50,00,000/-. Therefore, the present appeal is squarely covered by the CBDT Circular No. 17/2019 dated 8th August 2019. 3. On the other hand, the ld. Departmental Representative (DR) for the revenue after going through the grounds of appeal
submitted that though the tax effect involved in the present appeal is less than the monetary limit of tax effect fixed by CBDT in a recent circular, however, the revenue may be given liberty to get the appeal revived in case at the later stage it is discovered that the ground of appeal is covered by any exception clause of CBDT Circular No. 3/2018 dated 11th July 2018.
4. Considering the submissions of both the ld. representatives of the parties, we find that tax effect involved in the present appeal is less than the monetary limit of Rs. 50,00,000/- fixed by CBDT Circular No. 17/2019 dated 8th August 2019, therefore, the appeal of revenue is dismissed being not maintainable. In the result, appeal of the revenue is dismissed.