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TMI Blog2022 (7) TMI 1336X X X X Extracts X X X X X X X X Extracts X X X X ..... ellant : Mr. Soumen Bhattacharjee, Adv. For the Respondent : Mr. Abhratosh Majumder, Sr Adv., Mr. Avra Mazumder, Adv. ORDER The Court:- We have heard Mr. Soumen Bhattacharjee, learned standing Counsel appearing for the appellant and Mr. Abhratosh Majumder, learned Senior Counsel appearing for the respondent. GA/1/2021 (ITAT/172/2021) We find sufficient reasons given in the affidavit in suppor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd appreciating the care that the assesee is involved in organized tax evasion scan through bogus Long Term Capital Gains on Penny Stocks and the carefully within the ambit of exception to monetary limits for filing appeals as prescribed by the Central Board of Direct taxes vide Circular No. 23 of 2019 dated 06.09.2019 ?" We have heard Mr. Soumen Bhattacharjee, learned standing Counsel appearing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sioner of Income-tax, (Central), Ahmedabad vs. Anand Natwarlal Sharda, reported in (2021)128 taxmann.com 376 (Gujarat) have held that the Office Memorandum dated 16th September, 2019 has to be read along with the Circular No.23, dated 6th September, 2019 and can only have prospective effect. Learned Senior Counsel appearing for the respondent/assessee submitted that the decisions referred above ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Counsel. Therefore, we direct the Commissioner of Income tax (Judicial), Kolkata to render the required assistance to the standing Counsel appearing for the Department, supply adequate material and also notes on submission, which can be considered by us on the next hearing date. List the matter on 21st February, 2022." In terms of the above direction the Principal Commissioner of Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of monetary limit would be indeed operable from 16.09.2019 that is only in the cases where appeal was filed on or after 16.09.2019." In the light of the stand taken by the Department, the monetary limit would be operable from 16th September, 2019, that is, only in cases where appeal was filed on or after 16th September, 2019. In the light of the above clarification, we find that the order pas ..... X X X X Extracts X X X X X X X X Extracts X X X X
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