2019 (9) TMI 43

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....PCIT For the Respondent : Mr. R.Venkatesh, FCA, Mr.N.Arjun Raj, CA, Mr.M.Muraleedhara Reddy & Mr.V.Nagaprasad, Advs. ORDER PER SHRI DUVVURU R.L. REDDY, JUDICIAL MEMBER: The Revenue's appeal in ITA No.2066/Chny/2017, is delayed by 'five' days, for which, the AO has filed the affidavit requesting for condonation of delay, to which, the Ld.Counsel of the assessee has not raised any serious objection. Consequently, the delay of '05' days in filing of the appeal stands condoned and the appeals is disposed off on merits. 2. These '09' appeals and '02' Cross Objections pertain to the appeals are filed by various Assessing Officers, all these appeals call into question correctness of the relief granted to the taxpayers by the Commissioners of ....

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....nt thereto), and all it does is to replace paragraph nos. 3 and 5 of the said circular. This is evident from the following extracts from the circular dated 8thAugust 2019: "2. As a step towards further management of litigation. it has been decided by the Board that monetary limits for filing of appeals in income-tax cases be enhanced further through amendment in Para 3 of the Circular mentioned above and accordingly, the table for monetary limits specified in Para 3 of the Circular shall read as follows: Sl.No. Appeals/SLPs in Income-tax matters Monetary limits (Rs.) 1 Before Appellate Tribunal 50,00,000 2 Before High Court 1,00,00,000 3 Before Supreme Court 2,00,00,000 3. Further, with a view to provide parity in fi....

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.... paragraph 13 of the aforesaid circular which is as follows: "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 Pending appeals below the specified tax limits in pare 3 above may be withdrawn/ not pressed." 8. The Hon'ble Supreme Court in the case of the Commissioner of Income Tax-5,New Delhi Vs. Keshav Power Ltd., in SLP No.21497/2019 dated 16.08.2019 reported in 2019(8)TMI 811(SC) has also applied the Circular No.17/2019 dated 08.08.2019 has dismissed the appeal holding as follows: "Since the tax effect involved in the matter is less than Rs. 2/- crores, going by the latest....