Q: Whether revised monetary limit for filing appeal before ITAT is applicable to pending appeals ?
Yes ,Where CBDT Instruction No. 5 of 2014 revising monetary limit to Rs. 4 lakhs for filing appeal before Tribunal apply to pending appeals also, as monetary limit of appeal filed by revenue was less than Rs. 4 lakhs, same was to be dismissed
IN THE ITAT KOLKATA BENCH ‘B’
Income-tax Officer
v.
Gurudayal Sontosh Kumar
AND GEORGE MATHAN, JUDICIAL MEMBER
IT APPEAL NOS. 801, 837 TO 840 (KOL.) OF 2012
[ASSESSMENT YEARS 1995-96 TO 1999-2000]
FEBRUARY 4, 2015
Subject : Filing of appeal or application for reference by income-tax authority (CBDT Instruction No. 5 of 2014)
Section: 268A of the Income-tax Act, 1961
Assessment years : 1995-96 to 1999-2000
Facts of the Case :-
Revenue filed appeals before Tribunal. Assessee stated that in view of recent Instruction No. 5 of 2014 issued by CBDT on 10-7-2014 revising monetary limits for filing of appeal before Tribunal fixing tax effect limit at Rs. 4 lakhs, appeals were not maintainable and liable to be dismissed in limine
Revenue contended that this will apply to appeal filed on or after 10-7-2014
Decision :-
Instruction No. 5 will apply to pending appeals also
Since in instant case, tax effect being less than said limits, appeal was to be dismissed [Paras 5 and 6] [In favour of assessee]
Circulars and Notifications : CBDT Instruction No. 5 of 2014 dated 10-7-2014