2012 (8) TMI 1104

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....al came up for hearing, it was pointed out by the Bench that the penalty levied was only Rs. 13,874/- under Section 18(1)(c) of Wealth Tax Act, 1957 and learned D.R. was requested to explain how the appeal was maintainable in view of low tax effect. At this learned D.R. submitted that CBDT Instruction No.3/2011 dated 9.2.2011 applied only to income-tax matters. According to learned D.R., the appeal was filed on 30.5.2012 and therefore, Instruction No.3/2011 applied. As per the learned D.R., the said instruction was applicable only on income-tax matters and not on wealth-tax matters. 3. Nobody appeared on behalf of assessee. 4. We have perused the orders and also heard the contention of learned D.R. As per learned D.R., though the penalty ....

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....n supersession of earlier Instruction No.5/2008 dated 15.5.2008. A look at CBDT Instruction No.5/2008 dated 15.5.2008 clearly shows that these instructions were issued in supersession of certain earlier instructions on the matter. The instructions which stood superseded by CBDT Instruction No.5/2008 is mentioned at the preamble of the said Instruction itself which reads as under:- "Reference is invited to Board's instructions No.1979 dated 27.3.2000, No.1985 dated 29.6.2000, No.6 of 2003 dated 17.7.2003, No.19 of 2003 dated 23.12.2003, No.5/2004 dated 27.5.2004, No.2/2005 dated 24.10.2005 and No.5/2007 dated 16.7.2007, wherein monetary limits for filing departmental appeals (in Income tax matters) and other conditions were specified, for ....

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.... relevant provisions of statute and rules will continue to apply, it would by implication means that earlier instructions insofar as it related to matters other than income-tax would continue to apply. By virtue of Instruction No.5/2007 dated 16.7.2007, the monetary limit for filing of appeals before this Tribunal was increased Rs. 1 lakh. By virtue of Instruction No.1979 dated 27.3.2000, the monetary limits mentioned applied also to wealth-tax, gift-tax and Estate Duty matters. In our opinion, when these instructions are read together, despite the supersession effected by Instruction No.3/2011 dated 9.2.2011 of earlier Instruction No.5/2008 dated 15.5.2008 and supersession of instructions mentioned at para 5 above by us, through Instructio....