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2019 (8) TMI 1748 - AT - Income TaxMaintainability of appeal - Monetary limit - Low tax effect - DR submitted that the appeal is protected under the exception provided in paragraph 10(e) of Circular No. 3/2018 dated 11.07.2018 as amended by the Central Board of Direct Taxes vide letter dated 20.08.2018 -Addition u/s 68 - HELD THAT:- It is undisputed position that the tax effect of the quantum additions being contested by the revenue is less than prescribed monetary limit of ₹ 50 Lacs and the same is covered by recently issued low tax effect Circular No.17/2019 dated 08/08/2019 issued by Central Board of Direct Taxes [CBDT]. This recent circular further enhances the monetary limit fixed in earlier Circular No.3 of 2018 dated 11/07/2018 issued by CBDT as amended on 20/08/2018. The aforesaid limits, as per para 13 of the Circular no. 3 of 2018 dated 11/07/2018, applies to pending appeals also. So far as the plea of Ld. DR is concerned, we find that information received from DGIT (Investigation) would not constitute external sources within the meaning of clause (e) of para 10 of circular no. 03/2018 dated 11/07/2018 as amended on 20/08/2018. This view has been taken in Late Amarchand P. Shah [2019 (8) TMI 1402 - ITAT MUMBAI] wherein it has been held that Directorate of Income Tax (investigation) works under the aegis of investigation division of CBDT who is its controlling authority and hence, could not be called as external source. We dismiss the appeal with a liberty to the revenue to seek recall of the appeal, if at a later stage, it is found that the matter is covered by any exceptions provided in the aforesaid circular or in case the tax effect of the quantum additions as agitated by revenue exceeds the prescribed monetary limit.
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