2015 (12) TMI 1677

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..... spondent JUDGEMENT This appeal under Section 260A of the Income Tax Act, 1961 was admitted on the following substantial question of law: "Whether on the facts and circumstances of the case the Income-tax Appellate Tribunal erred in law in reversing the decision of the Commissioner of Income Tax (Appeal) by holding that the provision of Section 50C is not applicable to depreciable assets cove .....

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..... ook, in view of the Circular No. 21 of 2015 dated 10th December, 2015, issued by the CBDT fixing a monetary limit which is with retrospective effect, as seen from paragraph 10 thereof, and as the appeal does not come with the exceptions as stated at paragraphs 8 and 9 therein and as the tax effect is well below the said limit, the matter may be disposed of in the light of the said circular. Mr.Du .....

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