Satish Chandra, J. - (1.) BY this review petition, the petitioner has assailed the order passed by this Court in ITA No. 02 of 2007 dated 5.11.2009 whereby the impugned order passed by the Tribunal dated 4.8.2006 was set aside. The Assessing Officer was directed to take a fresh decision pertaining to bad debt after affording opportunity to the respondent -assessee on the record produced.
(2.) SRI Prashant Chandra, Senior Advocate, assisted by Sri Ashish Chandra, Advocate submits a preliminary argument that the said appeal was filed by the department before this Hon'ble Court. The tax effect in the appeal was less than Rs. 4,00,000/ -. As per the instruction of CBDT dated 15.5.2008, the appeal should not have been filed by the department as the tax effect was less than prescribed monetary limit. On the other hand, learned Counsel for the department Sri D.D.Chopra submits that the CBDT has also issued Circulars from time to time where exceptions were provided. It was clearly mentioned in the Circular No. F.279 Misc. 64/5 -IT that - 3. The Board has also decided that in cases involving substantial question of law of importance as well as in cases where the same question of law will repeatedly arise; either in the case concerned or in similar cases, should be separately considered on merits without being hindered by the monetary limits.
(3.) AFTER hearing learned Counsel for both the parties, it appears that CBDT Circular dated 15.5.2008 specifically mentions that the Income Tax Department shall not be precluded from filing the appeal against the disputed issue even in the case of same assessee for any other assessment year. These instructions were issued under Section of the Income Tax Act. The said section also provides the exception for filing the appeal where some disputed question is involved.;