TMI Blog2011 (4) TMI 163X X X X Extracts X X X X X X X X Extracts X X X X ..... ssue was held in against the Revenue by the ITAT order in the case of Living Stores Jewellery (P) Ltd. vs. DCIT, which the CIT(A) followed - Hence, the appeals filed by the Revenue are dismissed - Decided in favour of assessee. - ITA Nos. 648 to 651/Mum/2010, - - - Dated:- 29-4-2011 - R.K. Panda, Asha Vijayaraghavan, JJ. Chandrajit Singh for the Appellant Sanjiv M. Shah for the Resp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Ld. DR further argued that the Board's Instruction is to be applied prospectively and that it makes no reference to pending matters. 4. The Ld. Counsel for the assessee on the other hand relied on the decision of the Bombay High Court in the case of CIT vs. Madhukar K. Inamdar (HUF) 318 ITR 149 and CIT vs Pithwa Engg. Works 276 ITR 519 (Bom) . 5. We heard both the parties. The case o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of law which is likely to recur in future, the Department is not prohibited from filing and pursuing appeals. We believe that the saving clause saves the present appeal since it involves a question of law regarding interpretation of section 275(1)(c) of the Act, and more particularly the aspect of manner in which the limitation should be computed in the light of the said provisions. We have, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.. 3,00,000/-. However, considering the similar situation where tax limits were modified by the CBDT Instruction No. 5 of 2008 the Hon'ble Jurisdictional High Court in the case of CIT vs Madhukar K. Inamdar (HUF) (supra) held that the circular will be applicable to the cases pending before the court either for admission or for final disposal. In view of the order of the Jurisdictional High Cour ..... X X X X Extracts X X X X X X X X Extracts X X X X
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