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Judgment
PER SANJAY AWASTHI, ACCOUNTANT MEMBER:
In this case on the last date of hearing, none attended on behalf of the assessee but it was decided to proceed ahead with the adjudication with the help of Ld. DR. It was pointed out that the tax effect in this case, as per Form 36 was Rs.6,89,616/- only. On a query from the Bench regarding Low Tax Effect, the Ld. DR stated that this case would be covered under exceptions to the extant CBDT Circular, on account of alleged money laundering.
It is seen from a perusal of the orders of authorities below that the main allegation is that the assessee has made bogus purchases. A perusal of these orders reveals that there is no allegation of large scale money laundering to cover this case under the exceptions mentioned in the CBDT Circular No. 09 of 2024 dated 17/09/2024. Accordingly, we deem it fit to dismiss this case on account of Low Tax Effect. Therefore, the present appeal filed by the Revenue is not maintainable in the light of the CBDT Circular No.09 of 2024 dated 17/09/2024.
In the result, the appeal filed by the Revenue is dismissed.