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TMI Blog2015 (9) TMI 597X X X X Extracts X X X X X X X X Extracts X X X X ..... stances of the case and in law, the learned Commissioner of Income-tax (Appeals) was right in deleting the disallowance amounting to Rs. 7,46,488 without appreciating the fact that the assessee had closed down its business relating to trading in chemicals during the year and the expenses attributable to the said business has been correctly disallowed by the Assessing Officer ? 2. Whether, on the facts and in the circumstances of the case and in law, the learned Commissioner of Income-tax (Appeals) was right in deleting the addition of excess provision written back by the assessee in the profit and loss account and not offered for tax in this year, without appreciating the fact that the assessee, during the assessment proceedings, had not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions fixing the monetary limits for the Revenue to file appeals before the Tribunal, all the High Courts and the Supreme Court. The Central Board of Direct Taxes from time to time, issues instructions fixing the monetary limits with the object of not burdening the courts and the Tribunal with matters where the tax effect was on a lower side. The Central Board of Direct Taxes vide Instruction No. 5 of 2014 issued on July 10, 2014 had revised the earlier Instruction No. 3 of 2011, dated February 9, 2011 wherein, the monetary limits and other conditions for filing the Departmental appeals in Income-tax matters before the Appellate Tribunals, High Courts and the Supreme Court were specified. The Instructions issued on July 10, 2014 were in supe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t is less than prescribed monetary limits. 5.5. In the facts of the present case, the Revenue had filed the appeal on November 1, 2013. Admittedly, in the year under appeal, the tax effect is less than Rs. 4 lakhs as prescribed in Instruction No. 5 of 2014 issued by the Central Board of Direct Taxes. At the time of hearing of the appeal, the monetary limits prescribed by the Central Board of Direct Taxes stand revised by the said Instruction No. 5 of 2014, dated July 10, 2014 under which, it has been provided that where the tax effect does not exceed Rs. 4 lakhs in any of the assessment years then, no appeal can be filed before the Appellate Tribunal. The issue arising before us is whether the said revised Instructions which were issued su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n October 24, 2005 where the monetary limit has been fixed. In those instructions the only exception had been that in cases involving substantial question of law of importance as well as in cases where the same question of law will repeatedly arise, either in the case concerned or in similar case, appeal should be filed without being hindered by the monetary limits. The present instructions seem even to limit the issues in so far as the same question of law or recur ring issue except to the extent provided in paragraph 5. On a proper reading of paragraph 5 of the instructions it would be clear that a duty is cast on the Assessing Officer that even if the disputed questions arise for more than one assessment year then an appeal should be f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erefore, emerging from the aforesaid judgment, is that the circulars or instructions issued under section 268A of the Income-tax Act by the Central Board of Direct Taxes, are applicable not only to new cases but to pending cases as well. Such circulars have been issued under section 268A of the Income-tax Act, which is an exception to the provisions of section 260 of the Act. The Central Board of Direct Taxes being mindful of this position has issued the aforesaid instructions. In our opinion, therefore, the instructions would be applicable to pending cases as well. We have already found that Instruction No. 5 of 2008 and Instruction No. 3 of 2011 are pari materia. Instruction No. 5 of 2008 has already been interpreted by this court in CIT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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