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

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.

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.