Insertion
of new section 268A.
51. After section 268 of the
Income-tax Act, the following section shall be inserted and shall be deemed to
have been inserted with effect from the 1st day of April, 1999, namely:
268A. Filing of appeal or application for reference by income-tax authority.(1)
The Board may, from time to time, issue orders, instructions or directions to
other income-tax authorities, fixing such monetary limits as it may deem fit,
for the purpose of regulating filing of appeal or application for reference by
any income-tax authority under the provisions of this Chapter.
(2) Where, in pursuance of the orders, instructions or directions issued
under sub-section (1), an income-tax authority has not filed any appeal or
application for reference on any issue in the case of an assessee for any
assessment year, it shall not preclude such authority from filing an appeal or
application for reference on the same issue in the case of
(a) the same assessee for any other assessment
year; or
(b) any other assessee for the same or any other
assessment year.
(3) Notwithstanding that no appeal or application for reference has been
filed by an income-tax authority pursuant to the orders or instructions or
directions issued under sub-section (1), it shall not be lawful for an
assessee, being a party in any appeal or reference, to contend that the
income-tax authority has acquiesced in the decision on the disputed issue by
not filing an appeal or application for reference in any case.
(4) The Appellate Tribunal or Court, hearing such appeal or reference,
shall have regard to the orders, instructions or directions issued under
sub-section (1) and the circumstances under which such appeal or application
for reference was filed or not filed in respect of any case.
(5) Every order, instruction or direction which has been issued by the
Board fixing monetary limits for filing an appeal or application for reference
shall be deemed to have been issued under sub-section (1) and the provisions of
sub-sections (2), (3) and (4) shall apply accordingly..