TMI Blog2019 (6) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... venue fairly concedes that the appeal was filed way back in June, 2018. By virtue of the 'new litigation policy' and the circular issued subsequently on 11.07.2018 by the Central Board of Direct Taxes (CBDT), the subject matter of litigation for approaching the High Court shall be of a minimum value of ₹ 50,00,000/- which requirement is not satisfied in the instant case, as in the pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. Challenge is at the instance of the Revenue. Grievance is against the order passed by the Income Tax Appellate Tribunal, Raipur Bench, Raipur (for short 'the Tribunal') granting relief to the Respondent-Assessee. 2. The factual matrix reveals that assessment finalized in respect of year 2010- 2011 as per order dated 06.03.2013 (Annexure A/3) cam ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cumstances that the above appeal has been filed, suggesting the following substantial questions of law: 1. Whether in law and on the facts and circumstances of the case, the ITAT was justified in setting aside the order of CIT (A) and directing the AO to delete the addition on account of LTCG on sale of agricultural land made at ₹ 7,39,063/- holding it to be entitled for exem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tified in deleting the order of CIT (A) who has confirmed the order of the AO accepting the findings by the latter and from the evidences on record regarding the impugned land being regarded as non agricultural land, inter alia falling within the ambit of decision of Capital Asset u/s. 2(14)(iii)(a) of the IT Act thereby erred by giving a finding which is contrary to the evidence on record, which ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be of a minimum value of ₹ 50,00,000/- which requirement is not satisfied in the instant case, as in the present case, the tax effect is to the extent of ₹ 2,36,480/- only. 5. This Court is also aware of the fact that the scope of the said circular was considered by the Apex Court and in terms of the contents of such circular, it has been held that the same is h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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