TMI Blog2016 (4) TMI 1289X X X X Extracts X X X X X X X X Extracts X X X X ..... sed. It is appropriate to notice that the Central Board of Direct Taxes has issued the instructions contained in the said Circular in exercise of its power available to it under Section 268-A(i) of the Income Tax Act,1961 and hence, the Circular has statutorily enforceable character. In that view of the matter, we treat this appeal as not pressed and dismiss it as such. However, it goes withou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No.2509/Mds/91. 2. Learned counsel for the respondent-assessee, in the form of a memorandum, has raised a preliminary objection with regard to the sustainability of the Department's Tax Case Appeal, based upon the instructions contained in Circular No.21 of 2015, dated 10.12.2015 issued by the Central Board of Direct Taxes, New Delhi. 3. The said Circular No.21 of 2015 deals with the sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 Before Supreme Court 25,00,000/- It is clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed above. Filing of appeal in such cases is to be decided on merits of the case. 10. The instruction will apply retrospectively to pending appeals and appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he value of ₹ 3,12,396/- and hence, it being less than the limit of tax effect specified in paragraph 3 of the said Circular at ₹ 20 lakhs, this appeal deserves to be dismissed either as withdrawn or not pressed. 5. At this stage, learned Standing Counsel appearing for the appellant/Revenue (Department) urged that having noticed the instructions contained in the said Circular, she h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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