2019 (1) TMI 456

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../ Corelynx Solutions Pvt. Ltd., Shri Kalyan Sen, Shri Santosh Prasad, M/s Foto Industries 13 And M/s. M. Ramdeo & Co. (Bhatter), 23<br>Income Tax<br>2019 (1) TMI 456 - ITAT KOLKATA - TMI<br>ITAT KOLKATA - AT (Judgement / Order / Decisions)<br>Dated:- 31-7-2018<br>I.T.A No. 1223/Kol/2015, 1351/Kol/2015, 718/Kol/2017, 1297/Kol/2016, 1602/Kol/2017, 594/Kol/2016, 1713/Kol/2016, 51/Kol/2015, 2312/Kol/....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....than the prescribed revised threshold limit in CBDT's latest Circular No. 3/2018 dated 11.07.2018. It will be pertinent to reproduce the relevant portion of the said Circular No. 3/2018 dated 11.07.2018:- "3 . Henceforth, appeals/ SLPs shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder: Sl. No. Appeals/SLP's in Income-tax matters ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ess. However, the tax will not include any interest thereon, except where chargeability of interest itself is in dispute. In case the chargeability of interest is the issue under dispute, the amount of interest shall be the tax effect. In cases where returned loss is reduced or assessed as income, the tax effect would include notional tax on disputed additions. In case of penalty orders, the tax e....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he fact that time and energy of the department could be used more productively and efficiently to catch hold of big fishes, who in turn would contribute more to the development of the country. 3.2. On perusal of the Circular No. 3/2018 dated 11.07.2018 and the materials available on record, we do not see these cases falling under any of the exceptions contemplated in the said circular per se. W....