The revenue has filed  Miscellaneous application  urging that  CBDT Circular No. 23/2019 dated 6-9-2019 and Office Memorandum No. 279 dated 16-09-2019 issued by CBDT both providing that cases involving organized tax evasion scam through bogus long term capital gain/short term capital loss on penny stocks were not subjected to monetary limits prescribed for filing appeals, would apply  all pending  appeals .  Miscellaneous application was rejected by the Appellate Tribunal . On appeal the High Court up held the order of the Tribunal and held that  the circular No .23/2019  dated 6-9 -2019 should be read along with the office memorandum dated 16 -9 -2019 , in respect of appeals to be filed pursuant to such special orders of CBDT and shall apply to all the appeals  filed on or after 16 -9 -2019 by the revenue , where the tax effect may be low but the appeal could still be filed by the revenue on merits . Therefore CBBDT circular  would  apply prospectively to appeals filed on or after 16-09-2019 and same would not apply retrospectively to pending appeals .