(1.) Heard learned counsel for the parties and perused the records. Through the instant appeal under section 260A of the Income-tax Act, 1961, the appellant challenges the judgment and order dated April 22, 2009, passed by the Income-tax Appellate Tribunal, Lucknow Bench, Lucknow in Miscellaneous Application No. 12/LUC/2009, arising out of I.T. A. No. 707/LUC/2006 for the assessment year 2002-03.
(2.) The instant appeal have been admitted by an order dated September 8, 2009, on the following substantial question of law:
(3.) When the matter is taken up, Mr. Rohit Nandan Shukla, appearing on behalf of the respondent-assessee, prays for dismissal of the appeal only on the ground that in view of insertion of section 268A of the Income-tax Act, by the Finance Act, 2008, with retrospective effect from April 1, 1999, read with the notification of the Central Board of Direct Taxes dated May 15, 2008, fixing the monetary limit for filing the appeal, this appeal is not fit to be entertained and adjudicated.