2020 (1) TMI 653

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....s is an appeal filed under Section 260A of the Income Tax Act, 1961 (for short, "the Act") against the order, dated 05.09.2018, passed in I.T.A.No.156/Viz/2018 by the Income Tax Appellate Tribunal, Visakhapatnam Bench, Visakhapatnam. We have heard the submissions of Mrs. K. Mamata Choudary, learned standing counsel for Income Tax Department, appearing for the appellant. We have perused the mate....

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....t, dated 20.03.2015, was passed treating the purchaser of the property as the representative assessee of the non-resident assesse. Pursuant to the order under Section 163(1) of the Act, a notice, dated 25.03.2015, under Section 148 of the Act was issued to the representative assesse. The assessment was completed under Section 144 read with Section 147 of the Act, vide order, dated 16.03.2016, a....

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....onetary limit of Rs. 50,00,000/- in the event, the appeal is to be instituted before a High Court. In that view of the matter, this appeal is liable for dismissal. 5. Be that as it may, Clause 10 of the said Circular carves out exceptions and states that certain appeals can be contested on merits notwithstanding that the tax effect entailed is either less than the monetary limit specified in th....

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....as not applicable retrospectively and that the amendment made subsequent to the expiry of time limit cannot be made applicable to the assessment, which was already closed. The Tribunal also enunciated the legal position obtaining in support of its findings by making a reference to a decided case wherein the case facts are identical to the instant case and also to the precedential guidance in the d....