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Judgment
@JUDGMENT-JUDGMENT
R.K Panda, AM
This appeal filed by the revenue is directed against the order dated 21.01.2016 passed by the AO u/s. 144C(1)/ 143 (3) of the IT Act for A. Y.2011-12.
An adjournment application was filed by the Ld. Senior DR on the ground that the CIT(DR) is not available. However, the Ld. Counsel for the assessee submitted that since the tax effect involved in the grounds raised by the revenue is below Rs.50 lacs, therefore, the appeal filed by the revenue is not maintainable. Hence, the adjournment application filed by the revenue is rejected and the appeal is being disposed of on account of low tax effect.
The Ld. Counsel for the assessee at the time of hearing filed a chart substantiating that the tax effect involved in the grounds raised by the revenue is below of Rs. 50 lacs. Therefore, in view of the CBDT circular No.17/2019 dated 08.08.2019 whereby the CBDT has raised the monetary limit of filing appeals by the revenue before the Tribunal to Rs.50 lacs, the appeal filed by the revenue is not maintainable. It has further been clarified by CBDT subsequently that the said circular is applicable even to pending appeals. Therefore, the appeal filed by the revenue has to be dismissed.
We have heard the rival arguments made by both the sides and perused the orders of the authorities below. Admittedly the tax effect involved in the grounds raised by the revenue is below Rs.50 lacs as per calculation sheet filed by the Ld. Counsel for the assessee. Therefore, in view of CBDT Circular No.17/2019 dated 08.08.2019 raising the monetary limit of filing of the appeals by the revenue before the Tribunal to Rs. 50 lacs the appeal filed by the revenue is not maintainable. It has further been clarified by CBDT subsequently that the said circular is applicable even to pending appeals. We, therefore, dismiss the appeal filed by the revenue on account of low tax effect. 4.1 However, if the revenue at any point of time finds that the tax effect involved in the grounds raised by the revenue is more than 50 lacs, the revenue is at liberty to file miscellaneous application before the Tribunal for recalling of this order.
In the result, the appeal filed by the Revenue is dismissed.