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2021 (8) TMI 74 - AT - Income TaxDeduction u/s 80IC for the amount of profit determined - HELD THAT:- Admittedly, there is no effect on the tax liability on the assessee on account of the reduction made in the deduction claimed under section 80 IC of the Act - whatever amount of deduction is reduced by allocating the expenses which is resulting the deduction in the amount of profit that will get adjusted in the deduction available to the assessee under section 80 IC of the Act. Thus the entire exercise carried out by the Revenue is tax neutral. Accordingly, we hold that the appeals filed by the Revenue are not maintainable. As there is no demand of tax in th e appeals filed by the Revenue, these appeals are also not maintainable in view of the CBDT Circular No. 17 of 2019 dated 8-8-2019. As per the circular all pending appeals filed by the Revenue are liable to dismissed as a measure for reducing tax litigation where the tax effect does not exceed the prescribed monetary limit which is at ₹ 50 lakhs. Therefore, all the appeals filed by the Revenue are dismissed in limine.
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