2020 (4) TMI 188

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.... This is an appeal filed by the revenue against the order of the CIT(A), Cuttack dated 28.3.2019 for the assessment year 2013-14. 2. The grievance of the revenue is that the ld CIT(A) was not justified in deleting the penalty under section 271(1)(c) of the Act imposed due to (i) non-disclosure of receipts of Rs. 50,562/- from M/s. Hindustan Unilever Ltd., and (ii) unsecured loan of Rs. 26,24,448/....

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.... interest itself is in dispute, is Rs. 50,00,000/- or less. 6. This circular, only enhances the monetary limits and gives further relaxation. The old circular, beyond any dispute or controversy, categorically applied to the pending appeals as on the date of issuance of circular. 7. The circular dated 8th August 2019 is not a standalone circular. It is to be read in conjunction with the CBDT circ....

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....missal of appeal and restoration of the appeal in the case: (i) in which it can be demonstrated that the appeals are covered by the exceptions, and (ii) which are inadvertently included in this bunch of appeals, wherein the tax effect, in terms of the CBDT circular (supra), exceeds Rs. 50,00,000. 10. We accept the request of ld D.R. We make it clear that the appellant shall be at liberty to p....