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Income Tax Appellate Tribunal, MUMBAI BENCH “F”,
This is an appeal filed by the Revenue directed against the order of the CIT(A)-18, Mumbai dated 03/04/2013.
2. The only grievance of the Revenue relates to the allowing the exemption by CIT(A) under section 10 A at Rs. 38,320425 , and restricting at Rs. 33,956,250/- without appreciating the effect that in order giving the effect to ITAT order in dated 16.09. 2009 the same was accepted by the assessee.
At the beginning of the case in hand, Ld. AR for assessee filed the calculation of the tax effect before us and as per calculation the tax effect is only of Rs.3,43,680/-, which is not disputed by Ld. DR for revenue, which is admittedly below the monetary limits as mentioned in the latest circular of CBDT dated 10/12/2015.
Before going into the merits of the case, let us first consider CBDT’s latest instructions vide Circular No.21/2015 dated 10/12/2015, the relevant portion of which read as under:- “ Circular No. 21/2015 F No 279/Misc. 142/2007-ITJ (Pt) Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes New Delhi the 10th December, 2015 Subject: Revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal and High Courts and SLP before Supreme Court - measures for reducing litigation - Reg - Reference is invited to Board's instruction No 5/2014 dated 10.07.2014 wherein monetary limits and other conditions for filing departmental appeals (in Income-tax matters) before Appellate Tribunal and High Courts and SLP before the Supreme Court were specified.
In supersession of the above instruction, it has been decided by the Board that departmental appeals may be filed on merits before Appellate Tribunal and High Courts and SLP before the Supreme Court keeping in view the monetary limits and conditions specified below.
3. Henceforth, appeals/ SLPs shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder: - S. Appeals in Income-tax matters Monetary Limit (in Rs) No 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.” 5. Considering the circular of CBDT dated 10/12/2015, this appeal of the Revenue is dismissed.