ASSISTANT COMMISSIONER OF INCOME TAX, PUNE vs. HINDUMAL BALMUKUND INVESTMENT CO. PVT.LTD, PUNE

ITA 842/PUN/2017Status: DisposedITAT Pune14 September 2020AY 2012-133 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 held that the tax effect in both appeals was below the monetary limit prescribed by the CBDT circulars for filing appeals. Therefore, the appeals were dismissed on account of low tax effect without going into the merits of the issues.

What were the facts?

The Revenue filed appeals before the ITAT for assessment years 2012-13 and 2013-14. Both the Assessing Officer's calculations and the assessee's representative confirmed that the tax effect in both appeals was below Rs. 50 lakhs.

What were the issues?

The primary issue was whether the appeals filed by the Revenue should be dismissed due to a low tax effect, as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Not Applicable

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE

Before: SHRI P.M. JAGTAP(KZ) & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Vardhaman Jain

For Respondent: Shri S.P. Walimbe

Pronounced: 14.09.2020

आदेश / ORDER

PER SHRI PARTHA SARATHI CHAUDHURY,

These appeals preferred by the Revenue emanates from the separate orders of the Ld. CIT(Appeals), Pune – 1 dated 16.01.2017 for the assessment years 2012-13 & 2013-14

Before us, learned Departmental Representative at the very outset submitted that referring to the calculations in the order of the learned Assessing Officer that in both these appeals, the tax effect is below Rs.50 lakhs. Learned Authorised Representative also conceded to the same.

Having heard the parties and perusing the documents on record, we find that the tax effect involved in both these appeals of Revenue is less than the monetary limit prescribed by the recent CBDT Circular No.17/2019 [F.No.279/Misc.142/2007-ITJ (Pt)] dated 08th August, 2019 read with Circular No.3 of 2018 dated 11.07.2018 for filing of appeals before the Tribunal by the Department. The CBDT vide circular dated 08- 08-2019 (supra) has amended Para 3 of Circular No.3 of 2018 dated 11-07- 2018 thereby enhancing monetary limit of tax effect from Rs.20 Lakhs to Rs.50 Lakhs for filing of appeals by the Department before the Tribunal.

Thus, without going into merit of the issues raised in the appeal, in view of the CBDT Circular (supra) the present appeals of the Revenue are dismissed on account of low tax effect.

Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribunal for restoration of appeals, with the requisite material to show that the appeals are protected by the exceptions prescribed in Para 10 of the Circular dated 11-07-2018 and its amendment dated 20-08-2018.

In the result, both the appeals of Revenue are dismissed.

Order pronounced on 14th day of September, 2020.

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