Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, NAGPUR BENCH
Before: SHRI R.S.SYAL & SHRI S.S.VISWANETHRA RAVI
आदेश / ORDER
PER R.S.SYAL, VP: This appeal by the Revenue is directed against the order dated 15-02-2018 passed by the CIT(A)-1 Nagpur in relation to the assessment year 2014-15.
At the outset, the ld. DR admitted that the tax effect in this appeal was less than Rs.50.00 lakh. The CBDT has issued circular No.17/2019 dated 08-08-2019 revising upward the monetary limits for filing of appeals by the Department in Income-tax Cases before various appellate forums. The earlier circular No.03/2018 dated 11-07-2018 fixed monetary limit for filing of appeals by the Revenue before the Tribunal at Rs.20.00 lakh. Such limit has now been enhanced in the recent Circular dated 08-08-2019 to Rs.50.00 lakh.
Since tax effect in the appeal under consideration is admitted to be less than the revised monetary limit of Rs.50.00 lakh, we are not inclined to entertain this appeal. However, later on, if the tax effect is found to be more than the monetary limit of Rs.50.00 lakh, the Department will be at liberty to move application for restoration of the appeal.
In the result, the appeal is dismissed.
Order pronounced in the Open Court on 27th July, 2023.