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2014 (8) TMI 801 - AT - Income TaxMaintainability of appeal - Tax effect below prescribed monetary limit - Revision of monetary limits through circular - Whether the appeal of revenue, which is below the prescribed limit of tax effect in view of the Board's Instruction No.5/2014 issued on 10.07.2014 revising the monetary limits for filing of appeals by the Department before ITAT is maintainable or not – Held that:- Revenue is not justified in proceeding with the old references wherein the tax impact is minimal - Following the decision in Commissioner of Income-tax Versus PS. Jain and Co. [2010 (8) TMI 702 - Delhi High Court] - also in Commissioner of Income Tax v. Smt. Vijaya V. Kavekar [2013 (2) TMI 451 - Bombay High Court] it has been held that no appeals would be filed in the cases involving tax effect less than ₹ 4 Lacs notwithstanding the issue being of recurring nature - the main objective of instructions is to reduce the pending litigation, where the tax effect is considerable low or small, the appeal is not maintainable - The recent instruction revising the monetary limit to ₹ 4 lakh for filing appeal before ITAT on income tax matters, as issued vide Instruction No.5/2014 FNo279/Misc.142/2007-ITJ(Pt) dated 10th July, 2014 will apply to pending appeals also for the reason that the same is exactly identical to earlier instructions – revenue could not point out any exception to the Circular – Decided against Revenue.
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