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2014 (5) TMI 696 - AT - Income TaxMaintainability of appeal - Monetary limit of appeal - Filing of appeal or application for reference by income-tax authority u/s 268A of the Act - Connectivity of validity of assessment with issue of warrant – Warrant issued in ‘joint names’ – Held that:- An appeal may be preferred by the Revenue on the merits before the Appellate Tribunal provided the tax effect is exceeded the monetary limit of Rs.3,00,000 – in CBDT’s Instruction No.3 of 2011, dated 9th February, 2011 it has also been clarified that in supersession of the above instruction, it has been decided by the Board that Departmental appeals may be filed on the merits before Appellate Tribunal, High Courts and Supreme Court, keeping in view the monetary limits and conditions specified – Relying upon CIT & Anr v. Ranka and Ranka [2011 (11) TMI 449 - KARNATAKA HIGH COURT] – it is admitted by the Revenue that the tax effect was not exceeded the monetary limits in any of the assessees as per the Instruction No.3 of 2011 of the CBDT. As per the provisions of s. 268A of the Act the Department is always at liberty to proceed against the assessees on other cases of identical issue, if they are above the monetary limit prescribed - Before parting, we would like to mention that the Revenue has not brought to our notice any exempted situation mentioned in Para 8 of Board Instruction No.3 of 2011 dated 9th February, 2011 whereby appeal is to be filed despite the tax effect being below the prescribed monetary limit – Decided against Revenue.
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