TMI Blog2020 (5) TMI 184X X X X Extracts X X X X X X X X Extracts X X X X ..... ation received from Investigation Wing and the assessment has been completed by the Assessing officer where the matter under appeal has tax effect less than the prescribed limit, it will continue to be governed by low tax effect circular issued by the CBDT which is binding on the Revenue. Present appeal filed by the Department is dismissed on account of low tax effect given the matter not covered by any exceptions so specified. - ITA. No. 655/JP/2019 - - - Dated:- 12-3-2020 - Shri Vijay Pal Rao, JM And Shri Vikram Singh Yadav, AM For the Assessee : None For the Revenue : Shri K.C. Gupta (JCIT) ORDER PER: VIKRAM SINGH YADAV, A.M. This appeal by the Department is directed against the order dated 19.02.2019 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 50,00,000 Before High Court 50,00,000 1,00,00,000 Before Supreme Court 1,00,00,000 2,00,00,000 The Assessing Officer shall calculate the tax effect separately for every assessment year in respect of the disputed issues in the case of every assessee. If, in the case of an assessee, the disputed issues arise in more than one assessment year, appeal can be filed in respect of such assessment year or years in which the tax effect in respect of the disputed issues exceeds the monetary limit. No appeal shall be filed in respect of an assessment year or years in which the tax effect is le ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o para 10 of the Circular No. 3 of 2018 dated 11.07.2018-reg: Madam/Sir, Kindly refer to the above. 2. The monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/ appeals before Supreme Court have been revised by Board s Circular No. 3 of 2018 dated 11.07.2018. 3. Para 10 of the said Circular provides that adverse judgments relating to the issues enumerated in the said para should be contested on merits notwithstanding that the tax effect entailed is less than the monetary limits specified in para 3 thereof or there is no tax effect. Para 10 of the Circular No. 3 of 2018 dated 11.07.2018 is hereby amended as under: 10. Adverse judgments relating to the fol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nnot be any dispute that the Investigation Wing of Income Tax Department is part of Income Tax Department and is therefore clearly not an external law enforcement agency and that too, as specified in the aforesaid exception. Therefore, in the instant case, where the matter has been reopened based on information received from Investigation Wing and the assessment has been completed by the Assessing officer where the matter under appeal has tax effect less than the prescribed limit, it will continue to be governed by low tax effect circular issued by the CBDT which is binding on the Revenue. 6. In light of the same, the present appeal filed by the Department is dismissed on account of low tax effect given the matter not covered by any exce ..... X X X X Extracts X X X X X X X X Extracts X X X X
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