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2023 (2) TMI 1124 - HC - Income TaxMaintainability of appeal before HC on low tax effect - whether the appeal filed by the revenue comes under the exception clause as enumerated in circular no. 3/2018 dated 11.07.2018”? - Disallowance of “Retention Money Deposit & Security Deposit - ITAT Allowed the appeal of the Assessee and the aforesaid disallowance of Expenditure of Rs. 1,07,35,595/- on account of Security Deposit, Retention Money deposit etc. was deleted - HELD THAT:- Having heard learned counsel for the parties and after going through the documents available on record and the different circulars whereby monetary limit for filing appeal under 260A of the Income Tax Act, 1961 has been fixed; it appears that in exercise of powers conferred under section 268A of the Income Tax Act, 1961, the Central Board of Direct Taxes (CBDT), vide its Circular No.3/2018 dated 11.07.2018 read with Circular No. 17/2019 [F. No.279/MISC. 142/2007- ITJ (PT.)], dated 08.08.2019 has fixed a monetary limit of tax effect of Rs.1,00,00,000/- for filing appeal u/s 260A of the Act by the Income tax department before the High Courts. Thus it is crystal clear that on the one hand the tax effect in the instant case is much below the monetary limit as enumerated in Circular No. 3/2018 read with Circular No. 17 of 2019 and on the other hand none of the exception clause much less the audit objection is involved in this case and as such, we are having no hesitation in dismissing this appeal on the question of maintainability itself. Instant appeal is dismissed at the admission stage itself.
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