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2020 (1) TMI 1629 - MADRAS HIGH COURTMaintainability of appeal before HC - low tax effect - tribunal held amalgamation is a reality, amounts received by the assessee from the amalgamated company from even before the amalgamation cannot be brought to tax -whetherTribunal was right in holding that interest on the amounts agreed to be paid by the amalgamated company cannot be brought to tax? - whether Tribunal was right in holding that the block assessment order passed under section 158BC in the assessee's case is bad in law as the material seized was not books of account or other documents but loose sheets of paper? - HELD THAT:- When the matters are taken up for hearing, learned Standing Counsel brought to our notice the Circular instruction issued by the Central Board of Direct Taxes vide Circular No.17/2019 dated 8th August 2019, wherein, it is stipulated that appeals shall not be filed/pursued by the Department before the High Court in cases where the tax effect does not exceed ₹ 1,00,00,000/- (Rupees One Crore). In the instant cases, the tax effect is said to be less than the monetary limit imposed and therefore, the Appeals filed by the Revenue are dismissed, as withdrawn, keeping open the substantial questions of law for determination in appropriate cases.
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