INCOME-TAX OFFICER, WARD - 1, BEED vs. M/S. SIDDHESHWAR URBAN CO-OP CREDIT SOCIETY LTD, BEED

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ITA 2533/PUN/2017Status: DisposedITAT Pune18 March 2021AY 2014-153 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeal filed by the Revenue. This was based on the CBDT circular revising upward the monetary limits for filing appeals, and the tax effect in this case being below the enhanced limit.

What were the facts?

The Revenue filed an appeal before the ITAT. The assessee's representative pointed out that the tax effect was below the revised monetary limit for filing appeals. The Revenue's representative conceded to this fact.

What were the issues?

Whether the appeal filed by the Revenue is maintainable given the tax effect is below the revised monetary limit prescribed by the CBDT circular.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE – VIRTUAL COURT

Before: SHRI R.S. SYAL & SHRI S.S. VISWANETHRA RAVI

For Appellant: Shri Surendra D. Mandlecha
For Respondent: Shri S.P. Walimbe

This appeal by the Revenue arises out of the order passed by the CIT(A)-2, Aurangabad on 21-08-2017 in relation to the assessment year 2014-15. 2. At the outset, the ld. AR submitted that the tax effect in this case is less than Rs.50.00 lakh, to which the ld. DR fairly conceded.

3.

The CBDT has issued circular No.17/2019 dated 08-08-2019 revising upward the monetary limits for filing of appeals by the Department in Income-tax Cases before various appellate forums. The earlier circular No.03/2018 dated 11-07-2018 fixed monetary limit for filing of appeals by the Revenue before the Tribunal at 2 M/s. Siddheshwar Urban Co-operative Credit Society Ltd.,

Rs.20.00 lakh. Such limit has now been enhanced in the Circular

dated 08-08-2019 to Rs.50.00 lakh. Since tax effect in the instant

appeal is less than the revised monetary limit of Rs.50.00 lakh, we

are not inclined to entertain this appeal.

4.

At this juncture, it is pertinent to note that the CBDT vide

F.No.279/Misc/M-13/2018-ITJ dated 20-08-2019 has clarified that the revised monetary limits so mentioned in Circular No.17/2019

are applicable to all pending appeals. In view of the foregoing

discussion, we dismiss the appeal filed by the Revenue. However,

it is made clear that if the tax effect in this particular appeal is more than the prescribed monetary limit of Rs.50.00 lakh or the case is covered by an exception, it will be open to the Revenue to move the Tribunal for taking necessary action.

5.

In the result, the appeal is dismissed. Order pronounced in the Open Court on 18th March, 2021. (S.S. VISWANETHRA RAVI) (R.S.SYAL) JUDICIAL MEMBER VICE PRESIDENT पुणे Pune; "दनांक Dated : 18th March, 2021 सतीश

3 M/s. Siddheshwar Urban Co-operative Credit Society Ltd.,

आदेश क" क" क" "ितिलिप क" "ितिलिप "ितिलिप अ"ेिषत "ितिलिप अ"ेिषत अ"ेिषत/Copy of the Order is forwarded to: अ"ेिषत आदेश आदेश आदेश अपीलाथ" / The Appellant;

1.

""यथ" / The Respondent;

2.3.

The CIT(A)-2, Aurangabad

4.

The Pr. CIT-2, Aurangabad िवभागीय "ितिनिध, आयकर अपीलीय अिधकरण, पुणे 5. “A” / DR ‘A’, ITAT, Pune गाड" फाईल / Guard file 6. आदेशानुसार आदेशानुसार आदेशानुसार/ BY ORDER, आदेशानुसार //// Senior Private Secretary आयकर अपीलीय अिधकरण ,पुणे / ITAT, Pune

Date

1.

Draft dictated on 18-03-2021 Sr.PS

2.

Draft placed before author 18-03-2021 Sr.PS

3.

Draft proposed & placed JM before the second member

4.

Draft discussed/approved JM by Second Member.

5.

Approved Draft comes to Sr.PS the Sr.PS/PS

6.

Kept for pronouncement on Sr.PS

7.

Date of uploading order Sr.PS

8.

File sent to the Bench Clerk Sr.PS

9.

Date on which file goes to the Head Clerk

10.

Date on which file goes to the A.R.

11.

Date of dispatch of Order. *

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