TMI Blog2011 (9) TMI 501X X X X Extracts X X X X X X X X Extracts X X X X ..... of show cause notice - Held That:- Circular dated 20-10-2010 prohibiting the revenue from preferring an appeal where the tax effect is less than Rs. 2 lakhs. comes into effect prior to 1.11.10. Circular giving benefit to assessee can be applied retrospectively. - CEA No. 84/2007 - - - Dated:- 15-9-2011 - N. KUMAR AND RAVI MALIMATH, JJ. N.R. Bhaskar and R. Veerendra Sharma for the Appella ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ver, section 80 mandates, if the assessee shows sufficient cause for non-payment of tax and interest within time, direction is vested with the authority to consider the said cause and in its view, if it is sufficient cause, not to impose penalty. In the instant case admittedly the assessee has paid tax and also paid interest even before the issue of show cause notice and has shown cause why it cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lar is in favour of the assessee, in view of the aforesaid judgment of the Apex Court, the circular had to be applied retrospectively granting the benefit. The interest component is hardly Rs. 24,000. In fact the interest was paid and thereafter refunded pursuant to the Tribunal's order. 4. In the facts of the case, we are satisfied though we have set aside the order of the Tribunal, insofar as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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