https://www.taxtmi.com/highlights?id=63242 Maintainability of appeal in High Court - low tax effect - Addition u/s 69A - It is not in dispute that the appeals filed by the appellant-revenue in this bunch of appeals allege the voluntary declaration of the amounts shown as long term capital gain and short term capital loss by the respondents-assessee during the search action under section 132 (4) of the IT Act, 1961. However, in view of the fact that the said Circular No. 23/2019 dated 6th September 2019 read with Office Memorandum dated 16th September 2019 not applicable with retrospective effect, though appellant-revenue has alleged organized tax evasion activity on the part of the respondent-assessee in those pending appeals as on the date of the said Circular No. 23/2019, the appellant-revenue cannot be allowed to pursue these appeals. - HC en-us Tue, 03 May 2022 12:19:31 +0530 Tue, 03 May 2022 12:19:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=63242 Maintainability of appeal in High Court - low tax effect - Addition u/s 69A - It is not in dispute that the appeals filed by the appellant-revenue in this bunch of appeals allege the voluntary declaration of the amounts shown as long term capital gain and short term capital loss by the respondents-assessee during the search action under section 132 (4) of the IT Act, 1961. However, in view of the fact that the said Circular No. 23/2019 dated 6th September 2019 read with Office Memorandum dated 16th September 2019 not applicable with retrospective effect, though appellant-revenue has alleged organized tax evasion activity on the part of the respondent-assessee in those pending appeals as on the date of the said Circular No. 23/2019, the appellant-revenue cannot be allowed to pursue these appeals. - HC Highlights Income Tax Tue, 03 May 2022 12:19:31 +0530 https://www.taxtmi.com/highlights?id=63242