Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, SURAT BENCH, SURAT
Before: SHRI PAWAN SINGH, Honble & Dr.SHRI ARJUN LAL SAINI, Honble
सुनवाई की तारीख/ Date of hearing: 15.04.2021 उ�घोषणा क� तार�ख/Pronouncement on: 15.04.2021 आदेश /O R D E R PER PAWAN SINGH, JUDICIAL MEMEBER: 1. This appeal by Revenue is directed against the order of ld.Commissioner of Income Tax(Appeals)-2, Surat, hereinafter referred as “Ld.CIT(A)”, dated 07.04.2017 for assessment year (AY) 2013-14.
At the outset of hearing, the ld.Authorised Representative(AR) of the assessee submits that tax effect involved in the present appeal is only of Rs.32,60,518/- and the appeal is liable to be dismissed in view of the CBDT Circular No.17/2019 dated 08.08.2019.
DCIT, Circle-2(1)(2), Surat Vs. M/s.S.N.Tradelink/ A.Y. 2013-14 3. The Ld.Departmental Representative(DR) for the Revenue submits that the Revenue may be given liberty to get the appeal revive, incase if it is discovered that grounds of appeal raised by the Revenue is covered by any exception clause of circulars of CBDT.
4. We have considered the contentions of both the parties and perused the material available on record. We have noted that the ld.CIT(A) while granting relief to the assessee, deleted the addition of Rs.1.00 crore (approximately) admittedly the tax effect involved in the present appeal is less than the monetary limit of the Rs.50 lacs as fixed by CBDT Circular No.17/2019 dated 08.08.2019. However, the Revenue is given liberty to get the appeal revive if at later stage it is discovered that grounds raised by the Revenue is covered by any exception clause of CBDT, circular dated 20.08.2018.
5. In the result, appeal of the Revenue is dismissed. Order pronounced on 15th April 2021 while hearing the appeal.