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TMI Blog2022 (3) TMI 659X X X X Extracts X X X X X X X X Extracts X X X X ..... excluding interest except when interest itself is in dispute, is ₹ 50,00,000/- or less. This circular, only enhances the monetary limits and gives further relaxation. The old circular, beyond any dispute or controversy, categorically applied to the pending appeals as on the date of issuance of circular. The circular dated 8th August 2019 is not a standalone circular. It is to be read in conjunction with the CBDT circular No. 3/2018 (subsequent amendment thereto), and all it does is to replace paragraph nos. 3 and 5 of the said circular. In the circumstances, respectfully following the principles laid down by the Hon ble Supreme Court in the case of the Commissioner of Income Tax-5, New Delhi Vs. Keshav Power Ltd. [ 2019 (8) T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s were closed at the relevant time therefore the delay of 111 days in filing the appeal by the revenue is condoned and the appeal is admitted for adjudication. 4. The revenue is aggrieved by the order of the ld CIT(A) in deleting addition of ₹ 1,58,80,813/- from interest on fixed deposits made in the co-operative banks u/s. 80P(2)(a)(i)/80P(2)(d) of the I.T.Act. 5. At the outset, ld A.R. of the assessee submitted that in this case, the tax effect is below the monetary limit as per the Circular No.17/2019 issued by CBDT dated 8th August, 2019, i.e. ₹ 50,00,000/-, therefore, the appeal is not maintainable and should be dismissed. 6. We find that CBDT vide circular No.17/2019 in F.No.279/Misc.142/2007- ITJ(Pt) dated 8th Au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n . 10. Learned CIT D.R. submits that liberty may kindly be given to point out, upon necessary further verifications, and to seek recall the dismissal of appeal and restoration of the appeal in the case: (i) in which it can be demonstrated that the appeals are covered by the exceptions, and (ii) which are inadvertently included in this bunch of appeals, wherein the tax effect, in terms of the CBDT circular (supra), exceeds ₹ 50,00,000. 11. We accept the request of ld CIT D.R. We make it clear that the appellant shall be at liberty to point out the case which is wrongly included in the appeal so summarily dismissed, either owing to wrong computation of tax effect or owning to such cases being covered by the permissible exce ..... X X X X Extracts X X X X X X X X Extracts X X X X
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