TaxTMI 
TaxTMI 
2021 (6) TMI 1065
X X X X Extracts X X X X
X X X X Extracts X X X X
....sed by the Income Tax Appellate Tribunal, Ahmedabad Bench, Ahmedabad (hereinafter referred to as "the Tribunal") in M.A. No. 77/AHD/2020 in ITA No. 1274/AHD/2019 (Annexure A) filed by the petitioner under Sections 254(2) of the Income Tax Act, 1961 (hereinafter referred to as "the said Act"), seeking prayer to recall the order dated 14.08.2019 passed by the Tribunal in ITA No. 1274 of 2019 and others. The Tribunal vide the impugned order dated 09.09.2020 has dismissed the said M.A. No. 77 of 2020 filed in ITA No. 1274 of 2019 along with the other Miscellaneous Applications filed by the petitioner (original applicant) holding that there was no mistake apparent on the face of record which could be rectified within the narrow compass of Sectio....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ing the Miscellaneous Application filed by the petitioner under Section 254(2) of the said Act in view of the subsequent circular No. 23/2019 dated 06.09.2019 as well as the Office Memorandum No. 279 dated 16.09.2019. According to Mr. Bhatt, the CBDT had in supercession of the earlier circular dated 11.07.2018 prescribed minimum monetary limit at Rs. 20,00,000/for filing Appeal before the Appellate Tribunal, providing certain exceptions. The said Circular was made retrospectively applicable to all the pending appeals. The said circular dated 11.07.2018 came to be modified by Circular No. 17/2019 dated 08.08.2019, whereby the monetary limit for filing the appeal before the Appellate Tribunal was revised to Rs. 50,00,000/-. Thereafter the CBD....
X X X X Extracts X X X X
X X X X Extracts X X X X
....o reproduce the circular dated 06.09.2019 and Office Memorandum dated 16.09.2019: "Circular No. 23 of 2019. F. No. 279/Misc./ M-93/2018-ITJ(Pt.) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Judicial Section New Delhi, 6th September 2019 Subject: Exception to monetary limits for filing appeals specified in any Circular issued under Section 268A of the Income Tax Act, 1961-reg. Reference is invited to the Circulars issued from time to time by Central Board of Direct Taxes (the Board) under Section 268A of the Income Tax Act, 1961 (the Act), for laying down monetary limits and other conditions for filing of departmental appeals before Income Tax Appellate Tribunal (ITAT), High Courts an....
X X X X Extracts X X X X
X X X X Extracts X X X X
....tember, 2019 OFFICE MEMORANDUM Subject:- Special order of Board exempting cases involving bogus Long Term Capital Gains (LTCG)/ Short Term Capital Loss (STCL) through penny stocks from monetary limits specified in any Circular issued under Section 268A of the Income Tax Act, 1961-reg. The undersigned is directed to refer to Circular No. 23 of 2019 dated 6th September, 2019 and to say that by virtue of powers of the Central Board of Direct Taxes u/s. 268A of Income Tax Act, 1961, the monetary limits fixed for filing appeals before ITAT/HC and SLPs/ appeals before Supreme Court shall not apply in case of assesses claiming bogus LTCG/STCL through penny stocks and appeals/ SLPs in such cases shall be filed on merits. (Abhishek Gautam) DCI....
X X X X Extracts X X X X
X X X X Extracts X X X X
....es not find any substance in the submission of Mr. Bhatt that the Tribunal should have recalled the order dated 14.08.2019 in view of the said Circular dated 06.09.2019 and the Office Memorandum dated 16.09.2019, which had retrospective effect. The Court at this juncture does not think it appropriate to deal with the facts of the case, as the main issue that falls for consideration before this Court in the present petition would be, as to whether the Circular dated 06.09.2019 and the Office Memorandum dated 16.09.2019 had any retrospective effect as sought to be submitted by learned Advocate Mr. Bhatt. 7. From the bare reading of the Circular dated 06.09.2019, it appears that the CBDT had decided that notwithstanding anything contained in ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....peals in cases involving tax evasion activity. The said Circular speaks about the Appeals that may be filed with the special order of the Board in future, and hence could not be construed to have retrospective effect. The Tribunal interpreting the said Circular/ Office Memorandum in the impugned order has rightly observed that in respect of each case or category of cases whether an appeal should be filed in view of the Circular dated 06.09.2019 or not shall be decided by the Board by way of special order, and thus a specific requirement of issuance of special order by CBDT is a must. The Tribunal therefore has rightly held that the CBDT Circular No. 23/2019 dated 06.09.2019 should be read along with the Office Memorandum dated 16.09.2019, i....