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2011 (5) TMI 825 - HC - Income TaxAdmissibility of appeal where tax effect is less than monetary limit prescribed - appeal of the revenue in respect of assessment made under the Interest Tax Act, 1974 - Held that:- Circular dated 24.10.2005 issued by CBDT carves out only one exception with regard to the permissibility of filing of appeals, only in cases involving substantial question of law of importance as well as cases where the same question of law will repeatedly arise either in the case concerned or in similar cases that the Department will not be hindered by the monetary limits. We are, however, of the view, where tax liability of the assessee is below the monetary limit prescribed, Revenue cannot file an appeal in transgression of the Circular by which it is bound. However, we may add that in a case which falls within the excepted category, it would always be open to the Department to bring it to the notice of the Forum approached and to insist that the question being covered by the exceptions contained in Clause 3 of the Circular dated 24.10.2005 as modified by the Instruction No.5 of 2007 dated 16.7.2007, the same deserves to be considered by the Superior Forum, the Circular of the CBDT notwithstanding.
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