Low tax effect appeals: CBDT cannot issue circular having retrospective operation: SC

CIT Vs. Gemini Distilleries (Supreme Court) CBDT Instruction No. 3/2011, dated 9-2-2011 is not applicable to pending appeals which were filed before the year 2011. The question raised in this batch of Appeals is as to whether the instructions/circular issued by the Central Board of Direct Taxes on 9.2.2011 related to  monetary limits and other conditions for filing departmental appeals (In Income-tax matters) before Appellate Tribunal, High Courts and Supreme Court will have retrospective operation or not. This Court in Commissioner of Income Tax-VIII, New Delhi v. Suman Dhamija (Civil Appea...