2022 (7) TMI 1336

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..... ed on or after 16.09.2019. In the light of the stand taken by the Department, the monetary limit would be operable from 16th September, 2019, that is, only in cases where appeal was filed on or after 16th September, 2019. In the light of the above clarification, we find that the order passed by the learned Tribunal does not call for any interference. Accordingly, we hold that there is no substantial question of law arising for consideration in these appeals and they are dismissed.
The Hon'ble Justice T.S. Sivagnanam And The Hon'ble Justice Bivas Pattanayak For the Appellant : Mr. Soumen Bhattacharjee, Adv. For the Respondent : Mr. Abhratosh Majumder, Sr Adv., Mr. Avra Mazumder, Adv. ORDER The Court:- We have heard Mr. Soumen Bhattach .....

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..... earing for the respondent assessee. On 19th February, 2022 we had passed the following order: "The Court : We have heard Mr. Soumen Bhattacharjee, learned Standing Counsel, appearing for the appellant/revenue and Mr. Abhratosh Majumder, learned Senior Counsel, assisted by Mr. Avra Majumder, learned Counsel for the respondent/assessee. An important issue is raised in this appeal as regards the applicability of the Circular issued by the CBDT in Circular no.23, dated 6th September, 2019 and the effect of the Office Memorandum dated 16th September, 2019. The High Court of Gujarat in Principal Commissioner of Income-tax vs. Denisha Rajendra Keshwani, reported in (2022)134 taxmann.com 249 (Gujarat) and Principal Commissioner of Income-tax, .....

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..... 22." In terms of the above direction the Principal Commissioner of Income Tax (Judicial), Kolkata has addressed the learned Standing Counsel for the appellant by letter dated 3rd March, 2022. Along with the said letter, notes on submission dated 7th March, 2022 has been appended. The said notes of submission reads as follows : "Notes on Submissions 1. The issue before the Hon'ble High Court is seen to be the retrospective or prospective applicability of Central Board of Direct Taxes Circular No. 23 dated 06.09.2019 and Central Board of Direct Taxes OM dated 16.09.2019 by which exception to the tax effect was allowed for filing appeals in Long Term Capital Gain/Penny Stock in ITAT in respect of appeals which were dismissed by ITAT. 2. .....

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