2016 (1) TMI 1445

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....R AMARJIT SINGH, JM: This appeal filed by the Revenue against the order of Commissioner of Income Tax (A) 17, Mumbai dated 23.04.2014 for the assessment year 2007-08. 2. At the time of hearing, it was noticed that the tax effect involved in this appeal on the disputed issues is less than Rs. 10 lakhs. For the sake of convenience, we tabulate below the relevant details:- S.No. Name of a....

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.... No. 21/2015 New Delhi the 10th December, 2015 Sub :Revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal and High Courts and SLP before Supreme Court - measures for reducing litigation - Reg Reference is invited to Board's instruction No 5/2014 dated 10.07.2014 wherein monetary limits and other conditions for filing depar....

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....t 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 chargeable had such total income been reduced by the amount of income in respect of the is....

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....h Courts/Tribunals. Pending appeals below the specified tax limits in para 3 above may be withdrawn/ not pressed. Appeals before the Supreme Court will be governed by the instructions on this subject, operative at the time when such appeal was filed." 11. ....." It can be noticed that the CBDT has further clarified that this new circular/instruction shall apply retrospectively, i.e., e....