TMI Blog2019 (8) TMI 1507X X X X Extracts X X X X X X X X Extracts X X X X ..... lar per se. We also find that this circular makes it very clear that the revised monetary limits shall apply retrospectively to pending appeals as well. Hon'ble apex court in Commissioner of Customs vs Indian Oil Corporation Ltd [ 2004 (2) TMI 66 - SUPREME COURT] has settled the law that CBDT's circulars are very much binding on revenue authorities. We thus hold that this Revenue's ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r dated 23.02.2017 passed in case No.27/CIT(A)-22/Kol/03-04/14-15 involving proceedings u/s. 201(1A) of the Income Tax Act, 1961; in short 'the Act'. Heard both the sides. Case file perused. 2. It is seen at the outset that the tax effect on the disputed additions before us is less than ₹ 50 lacs in cases i.e. less than the prescribed revised threshold limit in CBDT's lates ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Before Supreme Court 2,00,00,000 3.1 We find that intention behind the Circular No17/2019 dated 08.08.2019 needs to be understood in the following perspective:- 3. Further, with a view to provide parity in filing of appeals in scenarios where separate order is passed by higher appellate authorities for each assessment year vis- -vis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... han one assessment year and common issues in more than one assessments year, no appeal shall be filed in respect of an assessment year or years in which the tax effect is less than the monetary limit specified in para 3. In case where a composite order/judgment involves more than one assessee, each assessee shall be dealt with separately. 3.2. On perusal of the Circular No. 17/2019 dated 08.08 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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