Monetary limit in case of reference. - Income Tax - 1360/CBDT

INSTRUCTION NO. 1360/CBDT Dated: September 25, 1980 In view of the amendment made in the Finance Act, 1980 the standard deduction u/s.16(1) will be admissible to the pensioners from the assessment year 1981-82 The Board had earlier issued Instruction No.1298 dated 2-1-80 laying down that fresh reference applications need not be filed against any adverse order of the ITAT unless the tax effect is beyond the minimum specified in this regard in the existing instructions. Secondly it was decided that the AACs should be requested to keep the appeals involving this question pending until necessary satisfactory provisions are enacted in the act. 2. Recently we have received a judgement of the Punjab and Harayana High court in the case of Shri. Saroop Krishan, Chandigarh, dated 8-5-80 in I.T.R.No.110/1979 in which the judges have given divergent views on the issue involved and the case has now been referred to the Chief Justice for decision u/s.259 of the I.T.Act. A copy of the judgement is enclosed which may be circulated to the AACs, CIT(Appeals) and also to the senior D.R.s for their information and necessary reliance for the Departments cases. It is decided by the Board to contest the appeals already pending before the appellate authorities. However fresh references need not be filed against adverse orders of the Tribunal unless the tax effect is beyond Rs.10,000. 3. Regarding appeals pending before the Appellate Asstt. Commissioners/CIT (Appeals) THEY MAY be requested to dispose of all the appeals so far kept blocked. The judgement of the Punjab Harayana High court in the case of sh.Saroop Krishan may be brought to the notice of the Appellate Authorities.