HZGH COURT OF CHHATriSGARH AT BILASPUit (Revenue; Commlssioner of Income-Tax, Raipur Smt. Manisha Rohra Alias Sulochana, W/o Anil Kumar Rohra, Sunder Ganj Ward, f't. Shri Rajeev Shrivastava and Smt. Shradha P.ao, counsel for the appeliant/revenue. Shri Neelabh Dubey, counse! for the respondent/assessee. Vf The appeliant/revenue has preferred this appea! under Sectlon 260A of the Income Tax Act, 1961 (in short "the Act") against the impugned order passed by the Income Tax Appeifate Tribunal, Biiaspur (in short "the Tribunal") on the foliowins substantiai questions of law: "01. Whether in the facts and drcumstances of the case, the ITAT wasjustified in taw, in quashing the order passed u/s. 263 and in hofding that the assessment order was not erroneous and prejudicial to the interest of revenue though pmper and adequate inqu'iry was not made by the A.O. before passing assessment order. " 02. Whether the ITAT was justified in quashing the order u/s 263 by holding that relevant papers were ca'iled for by the AO and were filed by the respondent and it constituted proper enquiry of the O'S'/T? ofexemption clairried u/s 10(38)." 02. Briefly stated, facts ofthe case, as projected in the impugned ,order, are that the assessment was compieted under Section li ,..--^")' 143(3) of the Act on 23.1.2007 on a total income of Rs.1,05,260/- against the returned income of Rs.85,260/- by making routine dlsallowances. Later on, it was discovered by the Commissloner that the assessee has shown an income of R.S. 2 lac under the head "Long Term Capital Gain" and claimed exemption under Section 10(38) of the Act. Learned Commissionsr, Income Tax (in short "CIT") In his order under Section 263 of the Act he!d the said assessment erroneous md prejudicial to the interest of the revenue as he found that the AO has accepted the claim of the assessee wlthout proper veriflcation and investigation ofthefacts. The assessee, aggrieved by the order of iearned CIT, preferred appeal before the Tribuna!. Learned Tribunal ailowed the appeai by the impugned order i/vith a finding that tearned CIT vvas not justified in hoiding that the AO aliowed exemption under Section 10(38) without making proper enquiries, and further held that the. order of the AO cannot be held to be erroneous or prejudidai to the interest ofthe revenue and the >resent case was not flt for invoklng provisions of Section 263 of the Act, Shri Rajaev Shrivastava, learned counsel for the ippeiianfrevenue, before entering into merits of the case, fairiy submlts that even if She order passed by learned CIT under Section 263 Is upheld, tax effect involved In this appeal is less than the minimum monetary iimit of Rs. 4 lac as fixed by the Centra! Board of Direct Taxes vide its Instructions No.5/08 dated 15.5.2008, according to which for preferring appeai before the High Court, the minimum tax effect has been flxed at Rs.4 lacs. , Heard iearned counsel for the parties. The Central B( instructions to circuiars from No.5/2008 da- oard of Direct Taxes (in short "the Board") issues the income-tax authoritles by way of Issuing tlme to tlme. The Board, vlde Instruction ted 15.5.2008, In supersession of the earlier ^^.Y ^3^<r^^, ! ^s ^.%. ^<^ <!fe»-."i<r ^'S&i^^SiiSS^Ss'M^SfS^SG^ggsssS^ 'K^^^-WS^- Instructions, Instruc'ted the income-tax authorities regarding the monetary iimlts and conditions for filing departmental ippeais before the Appellate Tribunals, High Courts and Supreme Court. Instruction No.3 deals with the monetary imits, Instruction No.4 defines the tax effect, whereas Instructions No. 8 & 9 mention the conditlons, in which iverse judgments are to be contested irrespective of the tax effect. As per above instructions, for filing appeal before the High Court, the minimum monetary limit has been fixed at Rs.4 lacs. Thus, In view of the latest Instruction dated 15.5.2008 and Section 268A of the income Tax Act, we do not deem it necessary to go into the merits of the case. Accordingiy, the appea! is dismissed for having negligible tax 'ffect, Sd/- DhirendraMishra Judge "> Sdl- R.N. Chandrakar 3udge l-,,., rl::- -/"