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TMI Blog2013 (12) TMI 310X X X X Extracts X X X X X X X X Extracts X X X X ..... g an appeal under various forums and the limit fixed for this High Court is four lacs - As in the present case monetary effect is less than four lac and there being neither any question of recurring nature nor has any cascading effect - Decided against Revenue. X X X X Extracts X X X X X X X X Extracts X X X X ..... evised return filed on 27.3.2003 was a valid return filed voluntarily and before by detection by the department without appreciating that the return filed on 27.3.2003 can not be said to be a revised return within the meaning of section 139(5) of the Act and the act of concealment was completed in its original return filed on 29.10.2011?" The appeal relates for the Assessment Year 2001-2002. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he assessee and a show cause notice dated 3.10.2003 was issued. The assessee filed its reply stating that the mistake was rectified by voluntarily showing income of Rs. 5,08,395/- as income from capital gains in the revised return filed on 27.3.2003. The Assessing Officer rejected the contention of the assessee and vide order dated 27.4.2004 imposed penalty of Rs. 1,99,291/- under section 271(1)(c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal in view of Board Circular dated dated 27.3.2000 issued under Section 268-A of the Act where the monetary limit has been fixed for filing an appeal under various forums and the limit fixed for this High Court is four lacs. As in the present case monetary effect is less than four lac and there being neither any question of recurring nature nor has any cascading effect, in our considered opin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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