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2018 (9) TMI 71 - AT - Income TaxMaintainability of appeal - monetary limit - Exclusion/inclusion of foreign exchange fluctuation gain from computation of 10A - Reworking of disallowance for the purpose of 14A - Held that:- In the present case, if we consider each addition contested by the Revenue, then it would show that tax effect on each appeal would fall below ₹ 20 lakhs. The “tax effect” as per CBDT Circular is tax on the total income assessed minus the tax that would have been chargeable had such total income been reduced by the amount of income in respect of the issue against which appeal is filed, would be less than ₹ 20 lakhs. Therefore, the present appeals of the Revenue are hit by the CBDT Circular and hence not maintainable. Besides that ld.DR has not pointed out whether the case of the Revenue fall within the ambit of exceptions provided in the Circular or not. Thus, keeping in view the above CBDT circular and provisions of section 268A of the Income Tax Act, we are of the view that the present appeals of the Revenue deserve to be dismissed. They are accordingly dismissed.
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