- (1.) Indisputably in all these matters the tax effect, as brought to our notice, is less than Rs.20 lac.
(2.) The Central Board of Direct Taxes, in exercise of its power under Section 268A (1) of the Income-tax Act, 1961, in supersession of the Boards instruction No.5/2014 dated 10.07.2014, issued Circular No.21/2015 dated 10.12.2015 providing the monetary limits for filing appeals by the Revenue before the Tribunal, High Courts and Apex Court with an object to reduce litigation. Relevant para nos.3, 8, 9 and 10 reads as under:- "3. Henceforth, appeals/SLPs shall not be filed in cases where the tax effect does not exceed the monetary limits given hereunder:- JUDGEMENT_97_LAWS(RAJ)8_2016.htm
(3.) The extract of the paragraphs referred to supra, clearly indicates that limits specified in para 3 may not apply to certain exceptions specified in para 8. Para nos.9 and 10 of the Circular if read conjointly, clearly envisage that the present instructions will apply retrospectively to all the pending appeals and appeals to be filed henceforth in High Courts/Tribunals, subject to certain exceptions, where the tax effect even if is less than Rs.20 lac, can be preferred in High Courts.;