https://www.taxtmi.com/caselaws?id=297184 An appeal before the ITAT is not maintainable where the tax effect is below the CBDT-prescribed monetary limit, unless the case falls within a recognised exception under the applicable low tax effect circular. The later CBDT circular concerning bogus long-term capital gains and short-term capital loss through penny stocks was found inapplicable to accommodation unsecured loans, so the exception did not apply. The monetary limits were also stated to apply to pending appeals. On that basis, the Revenue's appeal was dismissed as not maintainable. en-us Wed, 05 Feb 2020 00:00:00 +0530 Sun, 22 Aug 2021 12:07:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297184 An appeal before the ITAT is not maintainable where the tax effect is below the CBDT-prescribed monetary limit, unless the case falls within a recognised exception under the applicable low tax effect circular. The later CBDT circular concerning bogus long-term capital gains and short-term capital loss through penny stocks was found inapplicable to accommodation unsecured loans, so the exception did not apply. The monetary limits were also stated to apply to pending appeals. On that basis, the Revenue's appeal was dismissed as not maintainable. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297184