CBDT Circular on monetary limits for filing Income Tax appeals apply to pending appeals

CIT Vs. Delhi Race Club Ltd The tax effect involved in the present appeal is Rs. 4,65,860/-. As per the recent guidelines of the CBDT, appeal in those cases where the tax effect is less than Rs. 10 lacs, are not to be entertained. In this case court has taken the view that such circular would also apply to pending cases.  A contrary view has been taken in CIT vs. M/s Varindera Construction Co (P&H High Court – Full Bench). ___________________________________________ IN THE HIGH COURT OF DELHI AT NEW DELHI ITA No. 128/2008 03.03.2011 Commissioner of income-tax Vs. Delhi...