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2011 (5) TMI 1012 - AT - Income TaxMonetary limit for filing the Appeal - Penalty u/s 271(1)(c) - Revenue appealed that CIT(A) erred in deleted the penalty u/s 271(1)(c) - Assessee contended that tax effect in the appeal is below prescribed monetary limit, therefore, straight way, the appeal of the revenue may be dismissed HELD THAT:- The bench in ACIT VERSUS M/S. SHRIRAM NUTRIENTS LTD. [2010 (10) TMI 1109 - ITAT INDORE] held," the income assessed and the tax involved is below monetary prescribed limits, therefore, without going into merits of the case on the primary objection of monetary limit, the appeal of the revenue deserves to be dismissed". CBDT has revised/raised the monetary limit for filing the appeal by the department - ITAT - Rs 300000; u/s 260 before HC - Rs 10,00,000; Before SC - Rs 25,00,000. Such instructions are applicable to the appeals filed on or after 9.2.2011, issued u/s 268A(1). As far as the merit of the case is concerned, it has already been examined by the ld. CIT(A) by keeping the provisions of sec. 275(1)(a). Since the appeal of the assessee was decided by the ld. CIT(A) vide order dated 4.11.2004, consequently, the penalty proceedings were supposed to be disposed of by 31.3.2006 whereas the same was decided vide order dated 22.4.2009. In view of this fact, the order was rightly quashed, consequently, we find no infirmity in the stand of the ld. CIT(A). The same is upheld.
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