2018 (10) TMI 790

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....er M.Balaganesh, AM 1. This appeal by the Revenue arises out of the order of the Learned Commissioner of Income Tax(Appeals)-20, Kolkata [in short the ld CIT(A)] in Appeal No. 517/CIT(A)- 20/CC-2(3)/15-16 dated 21.03.2017 against the order passed by the ACIT, CC-2(3), Kolkata [ in short the ld AO] under section 153A / 143(3) of the Income Tax Act, 1961 (in short "the Act") dated 31.03.2016 for ....

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....e Court 1,00,00,000/- It is clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed above. Filing of appeal in such cases is to be decided on merits of the case. 4. For this purpose, 'tax effect' means the difference between the tax on the total income assessed and the tax that would have been chargeab....

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....further been clarified that the revised monetary limits will apply retrospectively. The relevant para-13 of the Circular reads thus: "13. This Circular will apply to SLPs/appeals/cross objections/references to be filed henceforth in SC/HCs/Tribunal and it shall also apply retrospectively to pending SLPs/appeals/cross objections/references. Pending appeals below the specified tax limits in....

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....e of the Circular and laid down that when a circular issued by the Board remains in operation then the Revenue is bound by it and cannot be allowed to plead that it is not valid or that it is contrary to the terms of the statute. The appeal under consideration has certainly been filed contrary to the Circular issued by the CBDT Circular No.3 dated 11.07.2018. 5.1. In the event, the Revenue find....