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Section 260A of the Income-tax Act, 1961 - High Court - Appeal to - Assessment year 2000-01 Even if question of law is of recurring nature, revenue cannot file appeal if tax impact is less than monetary limit fixed by CBDT [In favour of assessee] CBDT's Circular No. 5, dated 15-5-2008 in general and paragraph (5) thereof in particular lay down that even if the same issue in respect of the same assessee for other assessment years is involved, even then the department should not file appeal, if the tax effect is less than Rs. 4 lakhs. In other words, even if the question of law is of recurring nature, the revenue is not expected to file appeals in such cases, if the tax impact is less than the monetary limit fixed by the CBDT. CASES REFERRED TO CIT v. Madhukar K. Inamdar (HUF) [2009] 318 ITR 149 (Bom.) (paras 6, 7), CIT v. Oscar Laboratories (P.) Ltd.[2010] 324 ITR 115 (Punj. & Har.) (paras 4,5,7) and CIT v. Polycott Corporation [2009] 318 ITR 144 (Bom.) (para 7) Rajesh Sethi for the Appellant. Ravish Sood for the Respondent. JUDGMENT Satish Kumar Mittal, J.- This appeal has been filed by the Revenue under section 260A of the Income-tax Act, 1961 (hereinafter referred to as "the Act") against the order dated September 7, 2007 passed by the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar in I. T. A. No. 12(ASR)2005, for the assessment year 2000-01 raising the following substantial question of law : "(i) Whether on the facts and circumstances of the case, the hon'ble Income-tax Appellate Tribunal is correct in law in holding that repayment of loan against residential house more than one year or within one year of transfer of long-term capital asset qualifies for exemption under section 54F of Income-tax Act, 1961 ?" 2. In the present appeal, the assessee is an individual and deriving income from LPG distributorship. For the assessment year 2000-01, the assessee filed his return declaring his income of Rs. 2,25,710. The Assessing Officer, vide its order dated March 25, 2003, framed the assessment under section 143(3) of the Act at an income of Rs. 7,60,580 while disallowing the claim of exemption of Rs. 4,04,664 under section 54F of the Act. It was held…

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