Case Law Details
ITO Vs Pioneer Khadan Product Pvt. Ltd (ITAT Kolkata)
On perusal of the Circular No. 17/2019 dated 08.08.2019 and the materials available on record, it reveals that this circular makes it very clear that the revised monetary limits shall apply retrospectively to pending appeals as well. Hon’ble apex court in Commissioner of Customs vs. Indian Oil Corporation Ltd reported in 267 ITR 272 (SC) has settled the law that CBDT’s circulars are very much binding on revenue authorities.
The ld. DR has also fairly stated that tax effect involved in appeal is less than the prescribed limit.
In view of above stated position, the appeal of the Revenue is dismissed because of low tax effect than the prescribed limits as per CBDT Circular No. 17/2019 dated 08.08.2019
FULL TEXT OF THE ORDER OF ITAT KOLKATA
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