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TMI Blog2020 (2) TMI 1650X X X X Extracts X X X X X X X X Extracts X X X X ..... the addition Addition relating to inflated sundry liabilities which has been confirmed by the CIT(A) as the assessee has failed to file the reconciliation of the sundry liabilities before the lower authorities - We have gone through the findings of the assessment order and findings of the appellate order. CIT(A) pointed out that assessee has not filed the reconciliation and confirmation of excess sundry liabilities. We are of the view that this issue should be remitted back to the file of the AO with the direction to the assessee to file the reconciliation and confirmation of excess sundry liabilities before the AO. AO is directed to adjudicate the issue in accordance to law. - ITA No. 1962/Kol/2017, ITA No. 2067/Kol/2017 - - - Date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fect of CBDT Circular vide Circular No. 17/2019 dated 08.08.2019. 5. Recently the CBDT has issued Circular No. 17/2019 dated 08.08.2019, whereby the monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal and High Courts and SLP before Supreme Court have been increased as measure for reducing Litigation. The revised monetary limits laid down in para-2 of this Circular are as follows: 1. Before Appellate Tribunal Rs. 50,00,000/- 2. Before High Court Rs.1,00,00,000/- 3. Before Supreme Court Rs. 2,00,00,000/- 6. In the present case, the tax effect by the revenue is less than Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the Department in ITA No. 1962/Kol/2017 is dismissed in limine. 10. Now, we shall take assessee s appeal in ITA No. 2067/Kol/2017 for A.Y. 2007-08 wherein the grounds of appeal raised by the assessee are as follows: 1. The ld. Commissioner of Income Tax (Appeals), Durgapur is erred in considering the facts and circumstances while making additions of Rs. 73,10,365/- as bogus and unexplained cash credit which is arbitrary in nature and devoid of facts and baseless. 2. The ld. Commissioner of Income Tax (Appeals), Durgapur is erred in considering the facts and circumstances while making additions of Rs. 6,82,689/- as inflated sundry liabilities merely relying on third parties confirmation without affording any opportunity to rebute ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 82,689/- relating to inflated sundry liabilities which has been confirmed by the ld. CIT(A) as the assessee has failed to file the reconciliation of the sundry liabilities before the lower authorities. We have gone through the findings of the assessment order and findings of the appellate order. The ld. CIT(A) pointed out that assessee has not filed the reconciliation and confirmation of excess sundry liabilities. We are of the view that this issue should be remitted back to the file of the Assessing Officer with the direction to the assessee to file the reconciliation and confirmation of excess sundry liabilities before the Assessing Officer. The Assessing Officer is directed to adjudicate the issue in accordance to law. 13. In the resu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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