ACIT CENT. CIR. - 47, MUMBAI vs. SRI. BHARAT K. SHETH, MUMBAI

The ld. Senior D.R. submitted that tax effect involved in these two appeal is less than Rs. 10 lacs and the CBDT Circular No. 21/2015 is applicable to this appeal and the both the appeals not maintainable/not pressed in terms of CBDT circular no 21/2015 dated 10/12/2015. The ld. Senior DR submitted that as per the latest CBDT Circular No. 21/2015, F. No. 279/Misc.142/2007-ITJ (Pt) dated 10th December, 2015 issued by Central ITA 1236/Mum/2006 & 2 ITA2606/Mum/2006 Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, no appeal shall be filed by the Revenue in respect of an assessment year or years in which the tax effect is less than the monetary limit specified in para 3 of the circular Para 3 of the Circular No. 21/2015 S No. Appeals in Income tax Monetary Limit matters (in Rs) 1 Before Appellate Tribunal 10,00,000/- 2 Before High Court 20,00,000/- 3 Before Supreme Court 25,00,000/- In the said circular vide para 10, it is stipulated that 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 Pending appeals below the specified tax limits in may be withdrawn/not pressed.

Keeping in view the CBDT Circular No. 21/2015 dated 10th December, 2015 which is applicable from retrospective effect and is also applicable to pending appeals and also in view of ld. Senior DR stating before us that these two appeals are now not maintainable/not pressed in view of the above CBDT Circular, we hold that these two appeals filed by the Revenue which are covered by this order involving tax effect of less than Rs. 10 lacs are not maintainable and are dismissed being not pressed. However, the Revenue is at liberty to file an application for recall of these appeal in accordance with law, if at any stage the Revenue wants to agitate the matter in accordance with the provisions/clauses as contained in the afore-stated circular. We order accordingly.