2014 (1) TMI 500

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..... venue. - Tax Appeal No. 44 of 2008 - - - Dated:- 6-12-2013 - Aparesh Kumar Singh, J. For the Appellants : M/s D Roshan, Sr SC(IT), R Kumari For the Respondents : M/s B Poddar, Senior Advocate, D Poddar Mishra, P Poddar, D Sinha JUDGEMENT:- PER : Aparesh Kumar Singh Being aggrieved by the order dated 26.12.2007 passed by the Income Tax Appellate Tribunal in respect of the Asse .....

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..... respect of the assessment years 1998-99 by estimating the wealth of the assessee at Rs.1,08,64,600/-. 3. On appeal. CIT(Appeals), vide its order dated 3.10.2006, allowed the appeal of the assessee, inter alia, issuing the direction to the Assessing Officer: (i) to assess the net wealth of the assessee on substantive basis (ii) to exclude the value of the assets from the computation of .....

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..... .Poddar, submitted that the tax effect involved in this appeal is less than Rs.4,00,000/- and therefore, as per Instruction No.2/2005 dated 24.10.2005 prescribing the limit for preferring appeal/reference before the appellate authority, the appeal preferred by the Revenue is not maintainable. This statement is not disputed by the learned counsel for the Revenue. The relevant portion of the said In .....

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