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TMI Blog2013 (11) TMI 1435X X X X Extracts X X X X X X X X Extracts X X X X ..... al filed under Section 260-A of the Income Tax Act against the order dated 7th January, 2009 passed by the Income Tax Appellate Tribunal, New Delhi has been filed on the following substantial questions of law: "(i). Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in rejecting the appeal of department on the ground of monetary limit prescribed by the CBDT for filing appeals before the Tribunal vide Instruction No. 02/2005 dated 24.10.05 by completely overlooking the fact that the appeal before the Tribunal was instituted in the year 2003 when the earlier instruction No. 1979 was applicable? (ii).Whether on the facts and in the circumstances of the case, the Tribunal is justified in law in rejec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce not maintianable. We have hard Sri Dhnnjai Awasthi, learned Senior Standing Counsel, Income Tax Department and Sri Sri Suyash Agarwal, learned counsel for the assessee. Sri Suyash Agarwal submitted that under section 268A of the Act which has been inserted with retrospective effect from 1.4.1999 the Board has power to issue circular regarding fixing monetary limit and no appeal can be filed by the Revenue. The circular dated 27th March, 2000 issued by the Board has thus been issued in exercise of powers conferred under section 268A of the Act and has binding effect on all the authorities. He, thus, submitted that as the tax in dispute is less than rupees two lakh the Revenue was not entitled to file appeal before the Tribunal. Accor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... notification,instruction or circular is the subject matter of an adverse order. (III) Where prosecution proceedings are contemplated against the assessee. (IV) Where the constitutional validity of the provisions of the act are under challenge." The Board has, therefore, decided that the appeal before the Appellate Tribunal in tax matter could be filed where tax limit exceeds rupees one lac. It has excluded this monetary limit in the following four type of cases: (I) Where Revenue audit objection has been accepted by the Department. (II) Where the Board's order, notification,instruction or circular is the subject matter of an adverse order. (III) Where prosecution proceedings are contemplated against the assessee. (IV) Where th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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