TMI Blog2020 (12) TMI 67X X X X Extracts X X X X X X X X Extracts X X X X ..... . 3/2018 dated 11/07/2018 as amended vide circular dated 20/08/2018. The bank account under question was maintained in India in which remittances were received from abroad. Therefore, the plea raised by the revenue could not be accepted. No other exception could be pointed out by revenue which would preclude it to withdraw the appeal under question. Therefore, we concur with the submissions of Ld. AR that the tax effect of quantum additions being contested by the Revenue is, prima-facie, below threshold monetary limit of ₹ 50 Lacs and the appeal is not maintainable in terms of recently issued low tax effect Circular No. 17/2019 dated 08/08/2019 [F.No.279/Misc. 142/2007- TTJ(Pt.) issued by CBDT. The appeal is not maintainable. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d letter read as under: - iv. That as per the above provisions, the tax effect involved in the subject of appeal is below the prescribed monetary limits. That tax effect involved for A.Y. 2009-10 is ₹ 44 Lakhs, whereas the TE involved in A.Y.2010-11 is approx. ₹ 55 Lakhs. However, since the addition is made in respect of foreign remittances, in light of the para 10 of the Circular No. 3/2018 dated 11/07/2018, the assessee s case is squarely covered under the exception clause of undisclosed foreign assets / foreign bank account / remittance not shown in the return of income by virtue of which, the department is precluded from withdrawing the appeal from the appellate authorities on the basis of the prescribed monetary limit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellate proceedings, the assessee submitted certain additional evidences which were subjected to remand proceedings. After perusing the material on record, remand reports, bank statements etc., Ld. CIT(A) deleted the impugned additions in its entirety since Ld. AO failed to establish that credit entries in the said account represented taxable income in India. Pertinently, out of aggregate additions of ₹ 132.70 Lacs, an amount of ₹ 59.44 Lacs was admitted by Ld. AO himself during remand proceedings that the said amount represented transfer from assessee s own NRE Account. Aggrieved as aforesaid, the revenue is in further appeal before us. 6. From the above facts, the undisputed position that emerges is that the assessee has ..... X X X X Extracts X X X X X X X X Extracts X X X X
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