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TMI Blog2021 (9) TMI 238X X X X Extracts X X X X X X X X Extracts X X X X ..... A. M ): By virtue of this Miscellaneous Application, the Revenue seeks to recall the order dated 27/08/2019 passed by this Tribunal in ITA No.2945/Mum/2018 dismissing the appeal of the Revenue on account of low tax effect under CBDT Circular No.17/2019 dated 08/08/2019. The primary ground on which the Revenue seeks to recall this order is by placing reliance on CBDT Circular No. 23/2019 dated 06/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the AO made an addition of Rs. 1,00,00,000/- u/s 68 of the Act. Decision of ITAT The ITAT has withdraw the Appeal suo-moto dated 21.08.2019. The captioned appeal in ITA No.2146/Mum/2019 (as per Annexure) preferred by Revenue, has listed by the Registry before the Bench on the grot,. they do not survive for consideration in view of the CBDT Circular No. 17/2019 dated 8th August, 2019. Furt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is seen from the assessment records that a search was conducted u/s 132 of 1 T Act on 09/10/2014 at the office of Lotus/Kamdhenu/green Valley group & their Associates and at the residence of their Directors by the DDIT Unit 3(2) Mumbai, The main allegation in this search was the introduction of unaccounted funds into business and personnel accounts. These funds were routed through paper entities ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s an exception to the circular issued u/s 268A specifying Monetary limits. Though the above circular was in respect of LTCG and short term capital Loss generated through Penny stock, the issue of organized tax evasion scam through accommodation entries is involved this case. ITAT has dismissed the appeal purely on low tax effect without the issue on merit, Hence it is suggested that Miscellaneo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 019 and the CBDT Circular No.23/19 was issued on 06/09/2019. Hence, on the date of passing the Tribunal order, the CBDT Circular / instruction relied upon was not in existence at all. In this view of the matter, we see no mistake on record in the order passed by this Tribunal. Similar view was also taken by this Tribunal in the case of DCIT vs. Shree Valji Manji Gothi in MA No.238/Mum/2011 dated 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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