2015 (12) TMI 1677

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.... Mr.D.S.Gupta, Advocate for the respondent JUDGEMENT This appeal under Section 260A of the Income Tax Act, 1961 was admitted on the following substantial question of law: "Whether on the facts and circumstances of the case the Income-tax Appellate Tribunal erred in law in reversing the decision of the Commissioner of Income Tax (Appeal) by holding that the provision of Section 50C ....

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.... 20 lakhs as evident from page 45 of the paper book, in view of the Circular No. 21 of 2015 dated 10th December, 2015, issued by the CBDT fixing a monetary limit which is with retrospective effect, as seen from paragraph 10 thereof, and as the appeal does not come with the exceptions as stated at paragraphs 8 and 9 therein and as the tax effect is well below the said limit, the matter may be dispo....