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Judgment
N.K. Billaiya, Accountant Member
This appeal by the Revenue is preferred against the order of the ld. CIT(A) - 31, New Delhi dated 25.10.2016 pertaining to A.Y 2007-08.
The solitary grievance of the Revenue is that the CIT(A) erred in deleting the addition of Rs. 6,75,740/- on account of interest on foreign bank deposits.
The grievance of the Revenue itself shows that the tax effect in this appeal is less than Rs. 20 lakhs. This appeal by the Revenue has to be dismissed in the light of the CBDT Circular No. 3/2018 dated 11.07.2018 by which the Board has revised the monetary limit for filing of appeals by the department before the ITAT and the monetary limit has been fixed at Rs. 20 lakhs. The Board at Clause 13 of the said Circular has clarified as under:
"This Circular will apply to SLPs/appeals/cross objections/references to be filed henceforth in Supreme Court/High Court/Tribunal and it shall also apply retrospectively to pending SLPs/appeals/cross objections/ references. The pending appeals below the specified tax limit in para 3 above may be withdrawn/not pressed."
In the light of the aforesaid CBDT Circular, the appeal filed by the Revenue is dismissed.
In the result, the appeal of the revenue in ITA No. 67/DEL/2017 is dismissed.