9911796707
TMI Blog2018 (7) TMI 2267X X X X Extracts X X X X X X X X Extracts X X X X ..... present appeal is dismissed as not pressed/withdrawn without answering the purported substantial questions of law. - I.T.A.No.80/2013 - - - Dated:- 23-7-2018 - THE HON'BLE Dr. JUSTICE VINEET KOTHARI AND THE HON BLE Mrs. JUSTICE S.SUJATHA FOR THE APPELLANT : MR. E I SANMATHI, ADV.) FOR THE RESPONDENT : MR.A SHANKAR MR. M LAVA, ADV. ORDER Mr.E I Sanmathi, Adv. for Appellants - Revenue Mr.A Shankar Mr. M Lava, Adv. for Respondent - Assessee 1. Both the learned counsels have brought to the notice of this Court that the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, New Delhi, has recently issued a revised Circular No.3/2018, dated 11th July, 2018, revising th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Monetary Limit (Rs.) 1. Before Appellate Tribunal 20,00,000 2. Before High Court 50,00,000 3. Before Supreme Court 1,00,00,000 It is clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed above. Filing of appeal in such cases is to be decided on merits of the case. 4. For this purpose, tax effect means the difference between the tax on the total income assessed and the tax that would have been chargeable had such total income been reduced by the amount of income in respect of the issues ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ne assessment year, appeals shall be filed in respect of all such assessment years even if the tax effect is less than the prescribed monetary limits in any of the year(s), if it is decided to file appeal in respect of the year(s) in which tax effect exceeds the monetary limit prescribed. In case where a composite order/ judgment involves more than one assessee, each assessee shall be dealt with separately. 6. Further, where income is computed under the provisions of section 115JB or section 115JC, for the purposes of determination of tax effect , tax on the total income assessed shall be computed as per the following formula- (A - B)+(C - D) where, A = the total income assessed as per the provisions other than the provisions c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ainst the disputed issues in the case of the same assessee for any other assessment year, or in the case of any other assessee for the same or any other assessment year, if the tax effect exceeds the specified monetary limits. 8. In the past, a number of instances have come to the notice of the Board, whereby an assessee has claimed relief from the Tribunal or the Court only on the ground that the Department has implicitly accepted the decision of the Tribunal or Court in the case of the assessee for any other assessment year or in the case of any other assessee for the same or any other assessment year, by not filing an appeal on the same disputed issues. The Departmental representatives/counsels must make every effort to bring to the n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Revenue Audit objection in the case has been accepted by the Department, or (d) Where the addition relates to undisclosed foreign assets/ bank accounts. 11. The monetary limits specified in para 3 above shall not apply to writ matters and Direct tax matters other than Income tax. Filing of appeals in other Direct tax matters shall continue to be governed by relevant provisions of statute and rules. Further, in cases where the tax effect is not quantifiable or not involved, such as the case of registration of trusts or institutions under section 12A/ 12AA of the IT Act, 1961 etc., filing of appeal shall not be governed by the limits specified in para 3 above and decision to file appeals in such cases may be taken on merits of a partic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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