TaxTMI 
TaxTMI 
2015 (12) TMI 1726
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....(Accountant Member) This appeal is filed by the Revenue. At the outset, it is observed that the tax effect involved in this appeal is below Rs. 10 lakhs. Vide Circular No.21/2015 dated 10th December, 2015, bearing F.No.279/- Misc.142/2007-ITI(Pt), the CBDT, functioning under the Ministry of Finance, with a view to reduce unnecessary litigation on their part, has issued a circular, wherein they ha....
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....e, the disputed issue arises in more than one year(s), appeal(s) can be filed in respect of such assessment year(s) in which tax effect in respect of the disputed issue exceeds the monetary limit specified, In other words, if there are a number of years, if the tax effect is less than the specified limit in one year, appeal cannot be filed or the same has to be withdrawn for that year, for want of....
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....anted by the CIT(A) which led to the filing of the present appeal by the Revenue, is admittedly, less than Rs. 10 lakhs. 3. The legislature in its wisdom has introduced S.268A of the Income Tax Act,1961, whereby the Board is empowered to issue orders/instructions/directions to the income-tax authorities, fixing the monetary limits for the purpose of regulating the filing of appeals. In the light ....