2008 (8) TMI 785

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....dated August 17, 2007, in I. T. A. No. 2451/ Mds/2006. The facts of the case are as follows : The assessee, who was an employee of the Reserve Bank of India, has filed returns of income for the assessment year 2004-05. During the previous year relevant to the assessment year, the appellant retired from the service under the voluntary retirement scheme offered by the employer Bank. On retirem....

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....ellate Tribunal. The Tribunal allowed the appeal following the decision of the Mumbai K-Bench of the Income-tax Appellate Tribunal in a group of 222 appeals in the case of Vaishali A. Shelar v. Asst. CIT in I. T. A. Nos. 6384/Mum/06, etc., dated March 28, 2007 [2008] 113 ITD 1, in the case of Shri C. S. Subramanian as well as Chennai " C" Bench in I. T. A. No. 471/Mds/05, etc., dated April 30, 200....

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...." Heard learned counsel for the Revenue and perused the order of the Tribunal. In this case, the tax amount involved is Rs. 1,62,212, which is less than the monetary limit prescribed by the CBDT for filing appeals before the High Court and it does not also fall within the exceptions provided for filing appeal before the High Court, even where the tax effect is less than Rs. 2,00,000. An i....

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....sessee, and (iv) where the constitutional validity of the provisions of the Act are under challenge. The Revenue had not made out a case that the issue involved in the appeal before the Tribunal falls within the exceptions provided in the circular. It is also pertinent to note that the judgment in which one of us is a party, in the case of the CIT v. Associated Electrical Agencies [2007] 295....