9911796707
TMI Blog2023 (9) TMI 496X X X X Extracts X X X X X X X X Extracts X X X X ..... missed due to low tax effect. - HONOURABLE MR. JUSTICE BIREN VAISHNAV AND HONOURABLE MR. JUSTICE BHARGAV D. KARIA Appearance: For the Appellant(s) No. 1 : Mr Nikunt K Raval (5558) For the Opponent(s) No. 1 : Mr Manish J Shah (1320) ORAL ORDER (PER : HONOURABLE MR. JUSTICE BHARGAV D. KARIA) Heard learned Standing Counsel Mr. Nikunt K. Raval for the appellant and learned advocate Mr. Manish Shah for the opponent. 1. This tax appeal is filed at the instance of the Revenue under Section-260A of the Income Tax Act, 1961 [for short 'The Act, 1961'] and the same is directed against the order of the Tribunal passed in the tax appeal, whereby, the Tribunal quashed and set aside the order passed by the Commissioner, Income Tax under Section-263 of the Act, 1961. 2. At the outset, the learned advocate Mr. Manish J. Shah, raised preliminary objections with regard to the maintainability of this appeal as according to him, in the appeal, filed by the Revenue tax effect is less than the limit prescribed in the Circular issued by the Central Board of Direct Taxes being Circular No. 17 of 2019 dated 08th August, 2019. 3. On the other-hand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onetary limits for filing of income tax appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/ appeals before Supreme Court were specified. Para 11 of the Circular states that the monetary limits specified in para 3 shall not apply to writ matters and Direct tax matters other than Income tax and filing of appeals in such cases shall continue to be governed by relevant provisions of statute and rules. 2. There is no charge under Wealth Tax Act, 1957 w.e.f 1st April, 2016. Therefore, as a step towards litigation management, it has been decided by the Board that monetary limits for filing of appeals in Income tax cases as prescribed in Para 3 of the Circular shall also apply to Wealth Tax appeals through extension of the Circular to Wealth tax matters in a mutatis mutandis manner and with modifications as prescribed hereunder. 3. For the purpose of Wealth Tax appeals: A. Para 4 of the Circular shall be read as follows: For this purpose, 'tax effect' means the difference between the tax on Net Wealth assessed and the tax that would have been chargeable had such Net Wealth been reduced by the amount of wealth in respect of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court Amendment to Circular 3 of 2018-Measures for reducing litigation.- Reference is invited to the Circular No. 3 of 2018 dated 11.07.2018 (the Circular) of Central Board of Direct Taxes (the Board) and its amendment dated 20th August. 2018 vide which monetary limits for filing of income tax appeals by the Department before Income Tax Appellate Tribunal. High Courts and SLPs/appeals before Supreme Court have been specified. Representation has also been received that an anomaly in the said circular at para 5 may be removed. 2. As a step towards further management of litigation. it has been decided by the Board that monetary limits for filing of appeals in income-tax cases be enhanced further through amendment in Para 3 of the Circular mentioned above and accordingly, the table for monetary limits specified in Para 3 of the Circular shall read as follows: S. No. Appeals/SLPs in Income-tax matters Monetary Limit (Rs.) 1 Before Appellate Tri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Delhi. 6. Joint Secretary Legal Advisor. Ministry of Law Justice, New Delhi. 7. All Directorates oflncome-tax. New Delhi and Pr. DGIT(NADT), Nagpur. 8. ITCC (3 copies). 9. ADG (System) 4, for uploading on the Department's website. 10. Data Base Cell for uploading on irsofficersonline.gov.in. II. [email protected] for uploading on NJRS. 12. Hindi Cell for translation. 13. Guard file. 9. Thus, the Circular No. 3 of 2018 is amended by the Circular No.5 of 2018 and Circular No. 17 of 2019. After the amendment, the Circular No. 3 of 2018 is modified with regard to the monetary limits prescribed under the Circular No. 17 of 2019. Moreover, the Circular No. 17 of 2019 has substituted the Paragraph-5 of the Circular No. 3 of 2018. 10. Thus, on conjoint reading of all the three circulars, it appears that Paragraph-11 of the Circular No. 3 of 2018 which is substituted by Circular No. 5 of 2019 reads as under:- The monetary limits specified in Paragraph-3 above shall not apply to writ matters. 11. In view of the aforesaid Circulars issued by the Central Board of Direct Taxes from time-to-time, the underlying poli ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
