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Income Tax Appellate Tribunal, IN THE INCOME TAX APPELLATE TRIBUNAL
Before: SHRI P.K. BANSAL, VICE P.K. BANSAL & AND BEFORE SHRI & AND SHRI CHANDRA MOHAN GARG SHRI CHANDRA MOHAN GARGSHRI CHANDRA MOHAN GARG SHRI CHANDRA MOHAN GARG
PER P.K. BANSAL, VICE PRESIDENT PER P.K. BANSAL, VICE PRESIDENT :- PER P.K. BANSAL, VICE PER P.K. BANSAL, VICE PRESIDENT PRESIDENT
This appeal by the Revenue and the cross-objection by the assessee are directed against the order of learned CIT(A)-XXIII, New Delhi dated 20th October, 2006.
It is observed that the tax effect involved in the appeal by the Revenue is below `10 lakhs. The CBDT in its Circular No.21/2015 dated 10th December, 2015 has revised the monetary limit for filing of 2 ITA-885/D/2007 & C.O.175/D/2007 the departmental appeals to the ITAT at `10 lakhs which is evident from paragraph 3 of the Circular, which reads as under:-
“3. Henceforth, appeal/SLPs shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder:-
S.No. Appeals in Income-tax Monetary Limit (in Rs) matters 1. Before Appellate Tribunal 10,00,000/- 2. Before High Court 20,00,000/- 3. Before Supreme Court 25,00,000/-
It is clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed above. Filing of appeal in such cases is to be decided on merits of the case.”
In paragraph 10 of the Circular, such monetary limits have been made applicable retrospectively. For ready reference, we reproduce paragraph 10 below:-
“10. This instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in High Courts/Tribunals. Pending appeals below the specified tax limits in para 3 above may be withdrawn/not pressed. Appeals before the Supreme Court will be governed by the instructions on this subject, operative at the time when such appeal was filed.”
Therefore, the above Circular would be squarely applicable to the appeal under consideration before us. Learned Senior DR could not controvert the above position.
In view of the above, we deem it proper to dismiss the appeal of the Revenue in the light of the Circular No.21/2015 of CBDT dated 10th December, 2015.
3 ITA-885/D/2007 & C.O.175/D/2007
The cross-objection filed by the assessee has not been pressed by the assessee. The same is accordingly dismissed.
In the result, the appeal of the Revenue and the cross-objection of the assessee both are dismissed.
Decision pronounced in the open Court on 17.10.2017.