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2021 (9) TMI 238 - ITAT MUMBAIMaintainability of appeal - low tax effect - primary ground on which the Revenue seeks to recall this order is by placing reliance on CBDT Circular No. 23/2019 dated 06/09/2019 wherein the Circular was issued in respect of long term capital gain and short term capital loss generated through penny stocks, citing the same as an exception to application of low tax effect circular - HELD THAT:- We find that the Tribunal order dated 27/08/2019 contains only four paragraphs and there is no para 5 in the said order. Hence, the content in the Miscellaneous Application of the Revenue primafacie is incorrect. First of all there was no provision given in the Tribunal order to recall the order giving leeway or liberty to the Revenue to approach this Tribunal for recalling of the order. Tribunal order was passed in SMT. MANJULABEN B PATEL, [2019 (8) TMI 1753 - ITAT MUMBAI] and the CBDT Circular No.23/19 was issued on 06/09/2019. Hence, on the date of passing the Tribunal order, the CBDT Circular / instruction relied upon was not in existence at all. In this view of the matter, we see no mistake on record in the order passed by this Tribunal. Accordingly, the Miscellaneous Application of the Revenue deserves to be rejected as devoid of legally sustainable merits.
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