Monetary-limit circular applies to pending Revenue appeals, leading to dismissal where tax effect is below the prescribed threshold.

A Revenue appeal was treated as not maintainable because the tax effect was below the monetary limit prescribed in the Board's circular. The Tribunal applied the settled position that such monetary-limit instructions operate on pending appeals as well as future appeals, and should not be confined to cases decided after the circular. It also noted that the dispute was not recurring in nature, reinforcing that further appellate pursuit by Revenue was unwarranted. The appeal was dismissed in favour of the assessee.

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Issues: Whether the Revenue's appeal, involving a tax effect below the prescribed monetary limit, was liable to be dismissed as not maintainable in view of the Board's circular and the settled position regarding its application to pending appeals.

Analysis: The amount involved was found to be below the monetary threshold prescribed by the Board. The Tribunal relied on the Board's circular regulating filing of appeals by the Revenue, together with the view that the benefit of such instructions should not depend on the date of decision. It also followed the earlier decision of the Tribunal and the reasoning adopted by the High Court that a monetary-limit instruction is applicable to pending appeals and that applying it only prospectively would be discriminatory. Since the dispute was also not recurring in nature, the appeal was treated as falling within the category where Revenue should not pursue further appellate remedy.

Conclusion: The appeal was not maintainable and was dismissed in favour of the assessee.

Ratio Decidendi: A Revenue appeal below the prescribed monetary limit is liable to be dismissed as not maintainable, and the circular prescribing such limit applies to pending appeals as well as future appeals.

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