TMI Blog2018 (11) TMI 1745X X X X Extracts X X X X X X X X Extracts X X X X ..... eferences before High Court and S appeals below these limits may not be considered henceforth. This Circular will apply in SLPs/appeals/cross objections/ references -; be filed henceforth in SC/HCs/Tribunal and it shall also apply retrospects ;. to pending SLPs/ appeals/ cross objections/ references. Pending appeals below the specified tax limits in para 3 above may be withdrawn/ not pressed - Appeal filed by the Revenue, is therefore dismissed. - I.T.A. No. 7341/Mum/2016 - - - Dated:- 29-11-2018 - HON BLE SHRI B. R. BASKARAN AND HON BLE SHRI SANDEEP GOSAIN, JM For the Appellant : Ms. N. Hemlatha, DR For the Respondent : Shri Mayur Kisnadwala, AR ORDER Per Sandeep Gosain, Judicial Member: The present appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... etary limits given hereunder; S. No. Appeals/ SLPs in Income-tax matters Monetary Limit (Rs 1. Before Appellate Tribunal 20,00,000 2. Before High Court 50,00,000 3. Before Supreme Court 1,00,00,000 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. 4. For this purpose, 'tax effect' means the difference between the tax on the total income assessed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... site order of any High Court or appellate authority, which involves more than one assessment year and common issues in more than one assessment year, appeals shall be filed in respect of all such assessment years even if the tax effect is less than the prescribed monetary limits in any of the year(s), if it is decided to file appeal in respect of the year(s) in which tax effect exceeds the monetary limit prescribed. In case where a composite order / judgement involves more than one assessee, each assessee shall be dealt with separately. 6. Further, where income under the provisions of section 115JB or section 115JC for the purposes of determination of 'tax effect', tax on the total income assessed shall be computed as per the fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Department has acquiesced in the decision on the disputed issues. The Income-tax Department shall not be precluded from filing an appeal against the disputed issues in the case of the same assessee for any other assessment year, or in the case of any other assessee for the same or any other assessment year, if the tax effect exceeds the specified monetary limits. 8. In the past, a number of instances have come to the notice of the Board, whereby an assessee has claimed relief from the Tribunal or the Court only on the ground that the Department has implicitly accepted the decision of the Tribunal or Court in the case of the assessee for any other assessment year or in the case of any other assessee for the same or any other assessment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder challenge, or (b) Where Board's order, Notification, Instruction or Circular has been held to be illegal or ultravires, or (c) Where Revenue Audit objection in the case has been accepted by the Department, or (d) Where the addition relates to undisclosed foreign assets/ bank accounts. 11. The monetary limits specified in para 3 above shall not apply to writ matters and Direct tax matters other than Income tax. Filing of appeals in other Direct tax matters shall continue to be governed by relevant provisions of statute and rules. Further, in cases where the tax effect is not quantifiable or not involved, such as the case of registration of trusts or institutions under section 12A/12AA of the IT Act, 1961 etc., filing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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