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2019 (3) TMI 1967 - ITAT NAGPURMaintainability of appeal - low tax effect - HELD THAT:- Revenue is in appeal against the order of CIT (Appeal) in deleting the addition made by the AO to the returned income being a non genuine speculative loss. Prima-facie, the tax effect involved in appeal is less than the monetary limit prescribed by the recent CBDT Circular for filing of appeals before the Tribunal by the Department. CBDT vide Circular No. 3/2018, dated 11-07-2018 has raised the monetary limit of tax effect for filing of appeals by the Department before the Tribunal to ₹ 20 lakhs. Circular applies to the appeals to be filed by the Department in future as well as the appeals pending before the Tribunal. Without going into merit of the issues raised in the appeal, in view of the CBDT Circular the present appeal of the Revenue is dismissed on account of low tax effect. We clarify here that the Revenue shall be at liberty to approach the Tribunal for restoration of appeal, with the requisite material to show that the appeal is protected by the exceptions mentioned in Para 10 of the Circular - Appeal of the Revenue is dismissed.
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