2021 (9) TMI 238

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..... M ): By virtue of this Miscellaneous Application, the Revenue seeks to recall the order dated 27/08/2019 passed by this Tribunal in ITA No.2945/Mum/2018 dismissing the appeal of the Revenue on account of low tax effect under CBDT Circular No.17/2019 dated 08/08/2019. The primary ground on which the Revenue seeks to recall this order is by placing reliance on CBDT Circular No. 23/2019 dated 06/0....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....he AO made an addition of Rs. 1,00,00,000/- u/s 68 of the Act. Decision of ITAT The ITAT has withdraw the Appeal suo-moto dated 21.08.2019. The captioned appeal in ITA No.2146/Mum/2019 (as per Annexure) preferred by Revenue, has listed by the Registry before the Bench on the grot,. they do not survive for consideration in view of the CBDT Circular No. 17/2019 dated 8th August, 2019. Furth....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... is seen from the assessment records that a search was conducted u/s 132 of 1 T Act on 09/10/2014 at the office of Lotus/Kamdhenu/green Valley group & their Associates and at the residence of their Directors by the DDIT Unit 3(2) Mumbai, The main allegation in this search was the introduction of unaccounted funds into business and personnel accounts. These funds were routed through paper entities ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... an exception to the circular issued u/s 268A specifying Monetary limits. Though the above circular was in respect of LTCG and short term capital Loss generated through Penny stock, the issue of organized tax evasion scam through accommodation entries is involved this case. ITAT has dismissed the appeal purely on low tax effect without the issue on merit, Hence it is suggested that Miscellaneou....