THE INCOME TAX OFFICER Vs. RAMBILAS RATHI

JUDGEMENT

(1.) THIS appeal filed by the Revenue is against the order of CIT(A) -II, Nashik, dated 07.11.2013 relating to assessment year 2009 -10 against penalty levied under section 271(1)(c) of the Income Tax Act.

(2.) THE learned Authorized Representative for the assessee at the outset has pointed out that the present appeal filed by the Revenue is not maintainable as the tax effect in the present appeal was less than Rs. 4 lakhs.

(3.) WE find that the issue in the present appeal is squarely covered by the ratio laid down by the Hon'ble Bombay High Court in the case of CIT v. Smt. Vijaya V. Kavekar reported in : (2013) 350 ITR 237 (Bom) that the proposition regarding the Circulars issued by the CBDT are not only applicable to the new cases but would also applicable to the pending appeals.