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2019 (3) TMI 296 - HC - Wealth-taxMaintainability of appeal - monetary limit - existence of substantial question of law - whether the appeal has to be considered on merits without being hindered by the monetary limits if it involves a substantial question of law of importance and such question arises repeatedly? - HELD THAT:- the question of law has now been settled by the Honourable Supreme Court [2016 (1) TMI 826 - SUPREME COURT OF INDIA]. Repeated instances of such question of law arising does not arise at all, since the Wealth Tax Act is no more in force. The extant litigation policy which restrains the Department from taking up any appeal under Section 260A; if the demand is less than Rupees Fifty Lakhs. Considering the overall circumstances of the assessee having expired in the year 2010, the refund orders as per the order of the Tribunal having been issued, and also that the monetary limit is less than that prescribed under Annexure-D circular, we are of the opinion that though the question of law has to be answered in favour of the Revenue and against the assessee, there need be no recovery steps taken for reason of the appeals being below the monetary limit at the time of filing of the appeals itself. These appeals are hence closed with the above observations
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