642/CBDT. - Income Tax - 642/CBDT

INSTRUCTION NO. 642/CBDT Dated : January 4, 1974 Section(s) Referred: 10(14) ,16(v) Statute: Income - Tax Act, 1961 Attention is invited to Board's letter F.No.287/110/72-ITJ dated 30.3.72 and Circular F.No.279/178/72-ITJ (No.89) dated 23/6/72 on the above subject, wherein it had been stated that the above noted order of the Bombay Bench of the Tribunal was not accepted and a reference to the High Court was filed. Since the point is likely to arise in a number of cases and the revenue involved in individual cases being small may not merit appeal to the Tribunal, the Board desire that the Commissioners should request the Appellate Assistant Commissioner to keep such appeals pending till the High Court's decision is available. 2. It may be ensured that when the AAC/ITAT has already disposed of appeals following the adverse decision of the Bombay Bench, appeals/references are filed to keep the issue open. For this purpose it is clarified that the monetary limits prescribed in Board's letter F.No.279/189/72-ITJ (instruction No.442) dated 26.7.72. Will not apply to cases involving this issue and that appeals/reference should be filed in all such cases irrespective of the revenue effect.