Revised monetary limit bars departmental ITAT appeals below the prescribed tax-effect threshold, with year-wise computation required.

The CBDT's revised monetary limit for departmental appeals before the ITAT bars filing where the tax effect does not exceed the prescribed threshold, subject to stated exceptions. It also requires the Assessing Officer to compute tax effect separately for each assessment year. As the tax effect in the present appeal was below the revised limit of Rs. 50,00,000, the departmental appeal was not maintainable and was dismissed on that ground.

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Issues: (i) Whether the departmental appeal was maintainable in view of the revised monetary limit prescribed for filing appeals before the Tribunal.

Issue (i): Whether the departmental appeal was maintainable in view of the revised monetary limit prescribed for filing appeals before the Tribunal.

Analysis: The tax effect involved in the appeal was below the revised monetary limit of Rs. 50,00,000 prescribed by the CBDT circular governing departmental appeals before the Income Tax Appellate Tribunal. The circular requires the Assessing Officer to compute tax effect separately for each assessment year and bars appeals where the tax effect does not exceed the prescribed threshold, subject to stated exceptions.

Conclusion: The appeal was not maintainable and was dismissed on account of the monetary limit.

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