ITO, CORPORATE WARD - 4 (4),, CHENNAI vs. M/S. LIFESTYLE SERENITY PVT. LTD.,, CHENNAI

This appeal by the Revenue is arising out of the order of Commissioner of Income Tax (Appeals)-8, Chennai, in dated 21.02.2020 for the Assessment Year 2015-16. The Assessment was framed by Income Tax Officer, Corporate Ward-4(4), Chennai u/s. 143(3) of the Income Tax Act, 1961 (hereinafter ‘the Act’) vide order dated 28.08.2017.

At the outset the Ld. AR for the assessee pointed out that the tax effect in this appeal is below Rs.50.00 lakhs. The learned AR for the assessee further submitted that in view of the CBDT Circular No.17/2019, dated 08.08.2019 brought out by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, the appeal was not maintainable and be dismissed. The Ld. DR also agreed to the facts stated by the Ld.AR for the assessee. In view of the CBDT Circular No. 17/2019 dated 08.08.2019 no appeal should be filed by the Revenue before the Tribunal which has tax effect of Rs. 50.00 lakhs or less and this circular is also applicable retrospectively to all pending appeals, the appeal filed by the Revenue is dismissed as not-maintainable.

In the result, the appeal filed by the Revenue is dismissed.