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TMI Blog2024 (10) TMI 431X X X X Extracts X X X X X X X X Extracts X X X X ..... ts for filing appeal by department before the Tribunal, High Court and Supreme Court - HELD THAT:- By Circular 9 of 2024 dated 17.09.2024, monetary limits specified in Circular 5 of 2024 were enhanced Circular 9 of 2024 albeit, enhanced the monetary limits but retained the exceptions in Para 3.1 3.2 of Circular 5 of 2024. From perusal of Para 5 of Circular 9 of 2024, it is evident that the circular shall apply to the appeals to be filed henceforth and also to the appeals pending before the Supreme Court, High Court and the Tribunal. Thereby making monetary limit specified in it and exceptions in Para 3.1 3.2 of Circular 5 of 2024 applicable to all the pending appeals. In other words, Circular 5 of 2024 was applicable prospectively but Circu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nst the order dated 09.09.2020 passed by the Income Tax Appellate Tribunal, Jaipur (for short 'the Tribunal'). 3. The brief facts are that the respondent filed income tax return pertaining to assessment year 2015-2016, declaring total income of Rs.20,04,170/-. The assessment under Section 143(3) of the Income Tax Act, 1961 (for short 'the Act') was finalized on 29.12.2017, disallowing the deduction of Rs.91,83,373/- claimed under Section 54B. Assessment order was revised under Section 263 of the Act on the ground that Section 50-C of the Act ought to have been invoked. The assessment order was set aside and matter remanded for assessment to be framed in view of the observation made by the Revisional Authority. The appeal of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted 10.07.2014, Para 11 in all three instructions was that these shall apply to the appeals to be filed on or after the date of issuance and the appeals filed earlier shall be governed by the instructions operating at the relevant time. Circular No.21 of 2015 dated 10.12.2015 was issued in supersession of Instruction No.5 of 2014. The monetary limit for filing the appeals was enhanced and para 8 stipulated exceptions for filing the appeal inspite of the low tax effect. Para 10 stated that the Circular will apply retrospectively and the pending appeals below specified monetary limit may be withdrawn/not pressed. Further that the appeals before the Supreme Court shall be governed by the instructions operative at the time of filing of these ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ving been accepted by department was no longer there. The Circular was made applicable to the appeals to be filed from the date of issue of the Circular. Para 10 of the Circular is quoted below:- This issues under section 268A of the Act and shall come into effect from the date of issue of this Circular. This Circular will apply to SLPs/appeals to be filed henceforth before the SC/HCs/Tribunals. 15. By Circular 9 of 2024 dated 17.09.2024, monetary limits specified in Circular 5 of 2024 were enhanced. The exceptions in Para 3.1 3.2 of Circular No.5 of 2024 were retained. 16. Para 5 of Circular 9 of 2024 is reproduced:- The modifications shall come into effect from the date of issue of this Circular. This Circular will apply to SLPs/appeals t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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