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Income Tax Appellate Tribunal, K BENCH, MUMBAI
IN THE INCOME TAX APPELLATE TRIBUNAL "K" BENCH, MUMBAI SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER (Assessment Year: 2010-11) The Income Tax Officer-9(3)(3), Mumbai, Room No. 471, 4th Floor, Aayakar Bhavan, M.K. Road, Mumbai - 400020 …………… Appellant M/s Fusion Jewellery Mfg. Private Vs Limited Unit No. 32, SFD-1, Seepz + SeepzSez, Andheri (East), Mumbai – 400096 [PAN: AAAFC7704R] Respondent ……………. Appearance For the Appellant/Assessee : Shri Fenil Bhatt For the Respondent/Department : Dr. Yogesh Kamat Date : 20.02.2023 Conclusion of hearing : 26.04.2023 Pronouncement of order
O R D E R Per Rahul Chaudhary, Judicial Member: By way of the present appeal the Revenue has challenged the order, 1. dated 30/07/2015, passed by the Ld. Commissioner of Income Tax (Appeals)-56, Mumbai [hereinafter referred to as ‘the CIT(A)’] for the Assessment Year 2010-11, whereby the CIT(A) had partly allowed the appeal filed by the Assessee against the Assessment Order, dated 10/04/2014, passed under Section 143(3) read with Section 144C(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’).
When the appeal was taken up for hearing the Ld. Authorised 2. Representative for the Assessee, at the outset, submitted that the tax effect in the said appeal is less than INR 50,00,000/- and therefore, in (AY 2010-11) view of Circular No. 17/2019, dated 08.08.2019, issued by the Central Board of Direct Taxes (CBDT) the appeal be dismissed.
We have perused the material on record and find that the Assessing 3. Officer has assessed income of the Assessee at INR 16,54,200/- vide order dated 10/04/2014 passed under Section 143(3) read with Section 144C(3) of the Act as against returned income of INR.9,75,015/-. According to the Circular No. 17 of 2019, dated 08.08.2019, issued by the CBDT, departmental appeals are not be filed before the Tribunal in cases where the tax effect does not exceed the specified monetary limits of INR 50,00,000/-. The tax effect in the present appeal is below the aforesaid specified monetary limit and therefore, the present appeal is dismissed as ‘withdrawn/not pressed’ in terms of the abovesaid circular with the liberty to the Revenue to file Miscellaneous Application seeking recall the present order within time limit prescribed in the Act in case on re-verification the Revenue comes to a conclusion that the tax effect is higher than the above- said specified monetary limit, or the appeal falls within the exception clauses contained in Circular No.3/2018, dated 11-7-2018 as amended by the letter [F.No.279/ Misc.142/2007-ITJ (PT)], dated 20- 8-2018.
In result, the present appeal preferred by the Revenue is dismissed as 4. withdrawn/not pressed.
Order pronounced on 26.04.2023.