Tribunal revises order due to tax limit breach, appeal rescheduled, Revenue's application granted.

The Tribunal recalled its order dated 23.08.2019 after finding that the tax effect exceeded the prescribed limit of Rs. 50 lacs set by CBDT Circular No.17/2019, amounting to Rs. 75,00,000. The appeal was scheduled for a hearing on 27.05.2021 without issuing separate notices to the parties. The Miscellaneous Application filed by the Revenue was allowed, and the order was pronounced during a Virtual Court Hearing on 08/04/2021.

---

---

Issues:
1. Mistake apparent from record under section 254(2) of the Income Tax Act, 1961.
2. Tax effect exceeding the limit prescribed by CBDT Circular No.17/2019 for filing appeal before the Tribunal.

Analysis:
1. The judgment addresses the issue of a mistake apparent from the record under section 254(2) of the Income Tax Act, 1961. The Revenue sought to point out such a mistake in the Tribunal's order dated 23.08.2019. The Learned Departmental Representative highlighted that the tax effect involved in the appeal exceeded the limit set by CBDT Circular No.17/2019, which is Rs. 50 lacs. As a result, the Ld. DR requested the Tribunal to recall the order.

2. The Tribunal considered the submissions of both parties and acknowledged that the tax effect in question amounted to Rs. 75,00,000, surpassing the prescribed limit of Rs. 50 lacs. Consequently, the Tribunal decided to recall the order dated 23.08.2019. The Registry was instructed to schedule the appeal for a hearing on 27.05.2021, with no separate notice to be issued to the parties due to the announcement made during the open court session. Ultimately, the Miscellaneous Application filed by the Revenue was allowed, and the order was pronounced on 08/04/2021 during a Virtual Court Hearing.

---