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Section 260A of Income-tax Act, 1961 - High court - Appeal to Notification dated 28-10-1992 barring making of reference when tax effect was less than Rs. 50,000, applies in case of appeals and also bars appeals having tax effect of less than Rs. 50,000 [Assessment year 1992-93] [In favour of assessee] CIT v. Uma Kant Mishra [2009] 316 ITR 229 (Pat.) Where the revenue contended that though the notification of the CBDT dated 28-10-1992, is binding on the revenue but the said notification prohibits only making of reference when tax effect is less than Rs. 50,000 and it does not bar filing of the appeal : Held that on the date, i.e., 28-10-1992, when the CBDT issued the instruction, there was no provision for appeal before the High Court. Section 260A, which provides for appeal to the High Court, has been inserted by the Finance (No. 2) Act, 1998, with effect from 1-10-1998. In the circular dated 27-3-2000, the tax effect exceeding revised monetary limits has been provided for filing the appeal under section 260A and reference under section 256(2) before the High Court. In the aforesaid background, it cannot be said that the monetary limits fixed for reference shall not apply in the case of appeal. Further the instruction of the CBDT dated 28-10-1992 fixing monetary limit for filing appeals shall be deemed to have issued under section 268A(1) in view of section 268A(5). Therefore, as in the instant case, the tax effect was less than Rs. 50,000, the appeal was not competent. Harshwardhan for the Appellant K N. Pandey and Vikash Jain for the Respondent. JUDGMENT Both the appeal arise out of an order passed by the Patna Bench of the Income-tax Appellate Tribunal. 2. Both the appeals have been admitted by order dated September 3, 2003, on the following substantial question of law : "Whether interest is to be levied on the tax determined on the basis of returned income or on the assessed income in view of the amendments made in sections 234A and 234B of the Income-tax Act, 1961?" 3. When the matter is taken up Mr. Vikash Jain 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…

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