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Section 260A of Income-tax Act, 1961 - High Court - Appeal to Where tax effect involved was less than Rs. 2 lakhs which was monetary limit for preferring an appeal by revenue, prescribed by Central Board of Direct Taxes by its Circular F. No. 279/126/98-IT, dated 27-3-2000 and it was not case of revenue that issue involved in these appeals before Tribunal fell within any one of exceptions provided in circular, appeal was to be dismissed [Assessment year 1991-92] [In favour of assessee] CIT v. Nagaraja Rao [2009] 318 ITR 422 (Mad.) Where the Tribunal held that the receipts from the sale of old silver oak trees which were shade trees in the assessee's coffee estate and which had outlived their normal life and which were posing a threat to the existing coffee plants were agricultural income and not assessable under the head 'capital gains' : Held that tax effect involved was less than Rs. 2 lakhs which was the monetary limit for preferring an appeal by the revenue, prescribed by the Central Board of Direct Taxes by its Circular F. No. 279/126/98-IT, dated 27-3-2000. It was not the case of the revenue that the issue involved in these appeals before the Tribunal fell within any one of the exceptions provided in the circular. Hence, the appeal was liable to be dismissed. J. Nareshkumar for the Appellant. V. S. Jayakumar for the Respondent. JUDGMENT K. Raviraja Pandian, J. - These appeals are at the instance of the Revenue filed against the order of the Income-tax Appellate Tribunal, Madras "D" Bench, dated September 22, 2004, in I. T. A. Nos. 615, 619 and 620/Mds/97. 2. The facts of this case are as follows : The assessment of the assessees for the assessment year 1991-92 was completed under section 143(3) of the Income-tax Act, 1961, on March 31,1994, on a total income of Rs. 1,71,110, Rs. 1,79,570 and Rs. 3,36,390. While completing the assessment, the Assessing Officer found that the assessee had claimed the sale proceeds of silver oak trees standing in the coffee estate as not liable to capital gains tax. The Assessing Officer, relying on the decision of the Supreme Court reported in [1957] 32 ITR 705 , assessed the net capital gains arising from the sale of…

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