Home Case Index All Cases Wealth-tax Wealth-tax + AT Wealth-tax - 2018 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (7) TMI 591 - AT - Wealth-taxMaintainability of appeal - tax effect of appeal - Held that:- Instruction No.1979 dated 6.1.2005 as modified by Instruction No.1985 dated 29.6.2000 and Instruction No. 2/2005 dated 24.10.2005 would apply to filing of appeals under the Wealth Tax Act, 1957 as the CBDT Circular No.21/2015 is one issued u/s.268A of the Income Tax Act, 1961 and therefore cannot supersede a Circular which was applicable to filing of appeals under the Wealth Tax Act, 1957 viz., Instruction No.1979 dated 27.3.2000 as modified by Instruction No.1985 dated 29.6.2000 and Instruction No.2/2005 dated 24.10.2005. Therefore the monetary limit of ₹ 2 lacs for filing appeals under the Wealth Tax Act, 1957 before the Tribunal as laid down in Instruction No.2/2005 dated 24.10.2005 will be applicable for appeals filed after 24.10.2005. In that view of the matter the monetary limit for filing appeals by the Revenue are not satisfied and therefore the appeals by the revenue are not maintainable as they have contrary to the Board’s instructions. The appeals are therefore liable to be dismissed as not maintainable.
|