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Income Tax Appellate Tribunal, DIVISION BENCHES ‘A’, CHANDIGARH
Before: MS. DIVA SINGH & Dr. B.R.R.KUMAR
PER DIVA SINGH
The present appeal has been filed by the Revenue assailing the correctness of the order dated 29.03.2018 of CIT (A)-2 Chandigarh pertaining to the 2014-15 assessment year.
The ld. AR inviting attention to the departmental ground submitted that the tax effect involved in the present appeal is only Rs.19,75,364/- and thus below the limit of Rs. 20 lacs set out in para 10 of CBDT Circular No. 3/2018 dated 11.07.2018. Consequently being in violation of the CBDT Circular is not maintainable.
The ld. Sr.DR on going through the material available on record agreed that the submissions of the assessee on facts are correct.
We have heard the parties and seen the record. It is seen that the said circular is retrospective in nature. Accordingly, in view of the above, the appeal of the Revenue is dismissed on the grounds of low tax effect in terms of the aforesaid circular of the CBDT by which the Tax Authorities are bound.
In the result, appeal of the Revenue is dismissed. Said order was pronounced in the Open Court at the time of hearing itself. Order pronounced in the Open Court on 04.09.2018. (Dr. B.R.R.KUMAR) JUDICIAL MEMBER ‘Poonam’ Copy to:
The Appellant 2.The Respondent 3.The CIT 4.The CIT(A)
The DR Asstt.