While dismissing the appeal of the Revenue the Tribunal gave the liberty to the Revenue to file miscellaneous applications in case the tax effect in these appeals was found to be more than Rs.500000. or the case fell in any of the exceptions in the circular. The prosecution was launched against the company and its directors under section 276C(2) read with section 278B of the Act. High Court has granted stay against the prosecution. Revenue filed Miscellaneous application to recall the order of the Tribunal dismissing the appeal on the ground of monetary limits. Dismissing the application the Tribunal held that case of the Revenue did not fall under exception of the Central Board of Direct taxes Circular. Accordingly the miscellaneous application of the Revenue was dismissed. (AY. 2010-11, 2011-12)
ACIT v. Raj Auto Wheels P.Ltd (2022) 100 ITR 245 (Jaipur)(Trib)
S. 254(2) : Appellate Tribunal-Rectification of mistake apparent from the record-Monetary limits for appeals filed by Revenue–Prosecution-Prosecution against the assessee and its directors-Order dismissing the appeal of the Revenue for within the monetary limits cannot be recalled. [S. 276(2), 278B]