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| The Tax Publishers2020 TaxPub(DT) 4288 (Mum-Trib) INCOME TAX ACT, 1961
Section 268A
As per CBDT Circular No. 17/2019, dated 8-8-2019, it was clarified that revised monetary limit of Rs. 50 lakhs as per the Circular would also apply to all pending appeals. Accordingly, appeal filed by revenue could not be maintained due to tax effect below Rs. 50 lakhs.
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Appeal (Tribunal) - Maintainability - Low tax effect -
Revenue challenged order passed by CIT(A) by way of appeal filed before ITAT. Assessee submitted that tax effect on amount disputed by revenue was below the monetary limit of Rs. 50 lakhs applicable to appeals before Tribunal. Held: As per CBDT Circular No. 17/2019, dated 8-8-2019, it was clarified that revised monetary limit of Rs. 50 lakhs as per the Circular would also apply to all pending appeals. Accordingly, appeal filed by revenue could not be maintained due to tax effect below Rs. 50 lakhs.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 1998-99 & 2001-02
INCOME TAX ACT, 1961
Section 90
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