9911796707
TMI Blog2018 (11) TMI 1701X X X X Extracts X X X X X X X X Extracts X X X X ..... that said circular is applicable retrospectively to the pending appeals also. In the case of Principal CIT of Income Tax Vs. Surinder Kumar Singhal [ 2017 (1) TMI 1658 - PUNJAB AND HARYANA HIGH COURT] while further relying upon the decision of CIT Vs. Dhanalekshmi Bank Ltd. [ 2015 (8) TMI 474 - SC ORDER] has dismissed the appeal of the Revenue without going into the merits due to low tax effe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Ld. Counsel of the assessee submitted that the tax effect involved in the present case is less than ₹ 20 lacs. The Ld. DR has also fairly admitted that CBDT Circular No. 3/2018 is applicable to this appeal, hence, this appeal of the Revenue is liable to be dismissed. 3. It may be noted that CBDT vide Circular No. 3/2018 dated 11.07.2018 has revised the monetary limit upto ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Court (supra), the present appeal of the Revenue is dismissed due to low tax effect. It is, however, clarified that the dismissal of the above appeal shall not be taken to be affirmation of the order of the CIT(A) on merits. The legal issue raised by the Revenue is being left open to be adjudicated in an appropriate case. Order pronounced in the Open Court. - - TaxTMI ..... X X X X Extracts X X X X X X X X Extracts X X X X
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