TMI Blog2019 (4) TMI 390X X X X Extracts X X X X X X X X Extracts X X X X ..... be dismissed on account of low tax effect. Therefore, without going into merits of the additions made in the hands of assessee, we dismiss the appeals filed by Revenue. The Cross Objections filed by assessee against appeals filed by the Revenue have thus become infructuous and are dismissed accordingly. Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2. The assessee filed written submissions stating that the appeals of the Revenue are liable to be dismissed on account of low tax effect in view of Circular No. 5/2019 dated 05-02-2019 read with CBDT Circular No. 3/2018, dated 11-07-2018. The assessee has further submitted in writing that the Department should withdraw the appeals if the tax effect involved is less than ₹ 20.00 lakh. 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rge under Wealth Tax Act, 1957 w.e.f. 01.04.2016, as a step towards litigation management, the Board has decided that monetary limits for filing of appeals in income tax cases as prescribed in para 3 of the circular (No. 3/2018) shall also apply to wealth tax appeals through extension of circular to wealth tax matters in mutatis mutandis manner and with modifications as prescribed. For the pu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ls coming into effect, which is applicable to pending appeals, the present appeals filed by the Revenue before the Tribunal are liable to be dismissed on account of low tax effect. Therefore, without going into merits of the additions made in the hands of assessee, we dismiss the appeals filed by Revenue. The Cross Objections filed by assessee against appeals filed by the Revenue have thus become ..... X X X X Extracts X X X X X X X X Extracts X X X X
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