What did the Tribunal hold?

The Tribunal, following the CBDT circular dated August 8, 2019, dismissed the appeal filed by the Revenue as withdrawn. The cross-objection filed by the assessee was also rendered infructuous and dismissed.

The Income Tax Appellate Tribunal (ITAT) was considering an appeal filed by the Revenue. The appeal was against an order favorable to the assessee, with a tax effect below the monetary limit set by a CBDT circular.

What were the issues?

The primary issue was whether the appeal filed by the Revenue should be withdrawn based on the revised monetary limits for filing appeals as per CBDT circulars.

ITO vs M/S the Ajnala Co. Op. Sugar Mill… | ITAT Amritsar 2021

Income Tax Appellate Tribunal, AMRITSAR BENCH, AMRITSAR.

Before: SH. LALIET KUMAR & DR. M. L. MEENA

For Appellant: Smt. Ratinder Kaur, D. R

For Respondent: Adv. Appellant by Smt. Ratinder Kaur, D. R

Hearing: 08.07.2021Pronounced: 08.07.2021

Heard together (2 matters)

I.T.A. No. 545/Asr/2016

CO No. 08/Asr/2017

Read from the judgment's own cause title. This page is filed under one of them.

ORDER Per Laliet Kumar, J.M.

Vide CBDT circular dated 8th August 2019, the income tax department has announced its policy decision not to file, or press, the appeal, before this Tribunal, against the appellate orders favourable to the assessee in the case in which overall tax effect, including surcharge but excluding interest, is Rs 50,00,000 or less. This monetary limit, which was Rs 20,00,000 till 7th August 2019, has been in effect enhanced by almost 2.5 times over the last year, and the relief is retrospective in nature inasmuch as it not only applies to future appeal but also to the pending appeal.

As a step towards management of litigation, the CBDT has decided to further enhance the monetary limits for filing the appeal in income tax cases vide para 3 and Para 5 of the aforesaid circular and thus to remove the agony of uncertainty to the taxpayers who have been successful before the lower appellate authorities.

The Learned Departmental Representatives placed reliance on the order.

In the light of the above discussions, and in the light of the CBDT Circular dated 8th August 2019, the appeal, involving tax effect of or less than Rs 50 lakhs, is dismissed as withdrawn.

When the appeal filed by the Revenue stand dismissed and C O of the assessee is infructuous as dismissed.

In the result, the appeal of the Revenue as well as the CO of the assessee is infructuous as dismissed.

Order pronounced in the open court on 08.07.2021 Sd/- Sd/- (Dr. M. L. Meena) (Laliet Kumar) Accountant Member Judicial Member Dated: 08.07.2021 GP/Sr. Ps. Copy of the order forwarded to: (1)The Appellant (2) The Respondent (3) The CIT (4) The CIT (Appeals) (5) The DR, I.T.A.T.

INCOME TAX OFFICER, AMRITSAR. vs. M/S THE AJNALA CO. OP. SUGAR MILL LTD., AMRITSAR.

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