2021 (9) TMI 1589

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....llant : Mr. A. K. Singh, Addl. CIT For the Respondent by: None ORDER PER: SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER: This Miscellaneous Application(MA) bearing MA No. 01/Alld./2020 arising out of ITA no. 319/Alld/2018 for assessment year(ay) 2011-12 has been filed by Revenue on the grounds that Revenue appeal in ITA no. 319/Alld/2018 for ay: 2011-12 was dismissed by Income-Tax Appellate Tri....

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....as called for hearing, while ld. DR made elaborate arguments in support of Revenue's MA. It is stated by ld. DR before the Bench that there was a Revenue audit objection, which was accepted by Department, and hence the case of the assessee was reopened u/s 147/148 of the Income-tax Act, 1961. The ld. DR has placed on record Revenue audit objections, which are placed in file. The ld. DR has also fi....

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...., 2019, wherein by way of amendment to Circular No. 03/2018, the monetary limit for filing Revenue appeal before tribunal for reducing litigation, has been enhanced to Rs. 50 lacs from its earlier limit of Rs. 20 lacs. The Circular No. 03/2018, dated 11.07.2018, at para 10(c) clearly stipulates that adverse judgments relating to issues where Revenue audit objection in the case has been accepted by....