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2015 (12) TMI 1677 - CALCUTTA HIGH COURT

2015 (12) TMI 1677 - CALCUTTA HIGH COURT - TMI - Monetary limit - maintainability of appeal - Applicability of provision of Section 50C to depreciable assets covered under Section 50 - Held that:- Since the tax effect in this appeal is below the monetary limit as per Circular which has been issued with retrospective effect and as Mr.Dudhoria submits that he has no written instruction from the Department for withdrawing this appeal and as the said Circular No. 21 of 2015 dated 10th December, 2015 .....

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e 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 covered under Section 50 of the Income Tax Act, 1961 ? We find that Circular 21 of 2015 dated 10th December, 2015 issued by the Central Board of Direct Taxes directs the departmental authorities not to file appeals before the High Court where the tax effect does not exceed ₹ 20 lakhs a .....

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