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Income Tax Appellate Tribunal, DELHI BENCH: ‘E’ NEW DELHI
Before: SHRI G.D. AGRAWAL & SHRI K.NARASIMHA CHARY
ORDER PER SHRI K.NARASIMHA CHARY, JM Challenging the order of the learned Commssioner of Income-tax (Appeals)- XXX, New Delhi (for short “Ld. CIT(A)) dated 29.12.2014, Revenue preferred this appeal. 2. At the outset, it is brought to our notice that the subject matter involved is Rs.5,9,45,874/- and tax thereon is Rs.18,37,275/-, being less than Rs.20 lacs, squarely falls within the ambit of Circular No.3/2018 dated 11.07.2018 issued by the Central Board of Direct Taxes prescribing the tax effect for preferring appeals before Tribunal by the revenue.
After perusing the materials available on record, we find that the amount disputed before us is below the tax effect limit prescribed by CBDT vide Circular No.3/2018 dated 11.07.2018 for preferring appeals before tribunal by the revenue. On perusal of the Circular No.3/2018 dated 11.07.2018 and the materials available on record, Ld. DR could not point out as to how and why such a Circular is not applicable to the facts of the case. We also find that the Circular makes it very clear that the revised monetary limits shall apply retrospectively to pending appeals also. We find that the Circular is binding on the tax authorities. Hence, we hold that the appeal of the revenue deserves to be dismissed in terms of low tax effect vide Circular No.3/2018 dated 11.07.2018. Accordingly, this being a low tax effect case, we dismiss this appeal of revenue in limine, as unadmitted, without going into the merits of the case.