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TMI Blog2020 (9) TMI 19X X X X Extracts X X X X X X X X Extracts X X X X ..... ases disallowed by the AO following Hon'ble Supreme Court's decision on bogus purchases in the case of Vijay Proteins Pvt. Ltd.? 2. Whether on the facts and circumstances of the case and in law the ld. CIT (A) was justified in deleting the additions made on the basis of corroborative information received from Investigating Wing, Mumbai which is a law enforcement agency under the Ministry of Finance and accordingly the case falls under exception clause 10(e) of Circular 03 of 2018 dated 20.08.2018 ?" 2. None has appeared on behalf of the assessee. However, an application for seeking adjournment was filed by the ld. Counsel of the assessee which was rejected by the Bench due to the reason that the tax effect in the appeal of the revenue is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... identical issue has been considered by this Tribunal vide order dated 29-11-2019 in the case of DCIT vs Gehlot Motors Pvt. Ltd in ITA Nos.1165 and 1166/JP/2019 in para 4 as under:- ''4. We have considered the rival submissions and carefully perused the relevant record. There is no dispute about the fact that the tax effect in these two appeals of the revenue is not exceeding the limits provided in the Circular No. 3 of 2018 dated 11.07.2018. The question as raised by the ld. D/R is whether these cases fall in the exception as provided in para 10(e) of the Circular No. 3 of 2018. At the outset, we note that as per the original Circular No. 3 of 2018 these matters do not fall in the exception, however, the said circular was amended by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has relied upon the Circular No. 23 of 2019 which further provides some exception to the monetary limits as per para 2 and 3 as under :- " 2. Several references have been received by the board that in large number of cases where organized tax-evasion scam is noticed through bogus Long-Term Capital Gain (LCG)/Short Term Capital Loss (STCL) on penny stocks and department is unable to pursue the cases in higher judicial for a on account of enhanced monetary limits. It has been reported that in large number of cases, ITATs and High Court have recognized the unique modus operandi involved in such scam and have passed judgements in favour of the revenue. However, in cases where some appellate for a have not given due consideration to positio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ource in the nature of law enforcement agencies such as CBI/ED/DRI/SFIO/Director General of GST Intelligence (DGGI) etc. Therefore, this case of the Revenue does not fall in the exception provided in clause (e) of para 10 of the Circular No. 3 of 2018. Accordingly, when the tax effect of Revenue's appeal is not exceeding the monetary limit as prescribed in the Circular then the same is not maintainable. Hence, the appeal of the Revenue is dismissed." Thus this Tribunal has taken a consistent view that the information received from Investigation Wing of the Department does not fall in the category of the information received from external source being law enforcement agencies such as CBI/ED/DRI/SFIO/DGGI etc. as provided in the exception cl ..... X X X X Extracts X X X X X X X X Extracts X X X X
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