TMI Blog2020 (8) TMI 262X X X X Extracts X X X X X X X X Extracts X X X X ..... 0,000/- or less. This circular, only enhances the monetary limits and gives further relaxation. The old circular, beyond any dispute or controversy, categorically applied to the pending appeals as on the date of issuance of circular. The circular dated 8th August 2019 is not a standalone circular. It is to be read in conjunction with the CBDT circular No. 3/2018 (subsequent amendment thereto), and all it does is to replace paragraph nos. 3 and 5 of the said circular. The Hon'ble Supreme Court in the case of The Commissioner of Income Tax-5,New Delhi Vs. Keshav Power Ltd. . [ 2019 (8) TMI 811 - SC ORDER] held Since the tax effect involved in the matter is less than ₹ 2 crores, going by the latest circular issued by the CBDT, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the AO on the ground of non-issuance of notice u/s.143(2) of the l.T. Act, when the same is curable u/s.292BB of the Act. 3. On the facts and in the circumstances of the case, the Ld. CIT(A) is not justified in law as well as on facts in not considering the merits of the additions made by the AO and annulling the assessment order merely on technical grounds and on the basis of the judgements of various High Courts. 4. At the outset, ld A.R. of the assessee submitted that the tax effect in both the appeals is below ₹ 50 lakhs and, therefore, in view of CBDT Circular No.17/2019 dated 8th August, 2019, the same are not maintainable and should be dismissed. 5. We find that vide CBDT circular No.17/2019 in F.No.279/Misc.142 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on is dismissed, leaving all the questions of law open . 9. Learned D.R. submits that liberty may kindly be given to point out, upon necessary further verifications, and to seek recall the dismissal of appeal and restoration of the appeal in the case: (i) in which it can be demonstrated that the appeals are covered by the exceptions, and (ii) which are inadvertently included in this bunch of appeals, wherein the tax effect, in terms of the CBDT circular (supra), exceeds ₹ 50,00,000. 10. We accept the request of ld D.R. We also make it clear that the appellant shall be at liberty to point out the case which is wrongly included in the appeal so summarily dismissed, either owing to wrong computation of tax effect or owning to ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
