THE DY. COMMR. OF INCOME TAX, CIR.-1, JAMNAGAR vs. M/S MEENA AGENCY LTD., JAMNAGAR

The instant appeal filed by the Revenue is directed against the order dated 13.04.2016 passed by the Commissioner of Income Tax (Appeals), Jamnagar arising out of the order dated 24.03.2015 passed by the ACIT, Circle – 3, Jamnagar under section 143(3) of the Income Tax Act, 1961 (hereinafter referred as to “the Act”) for the Assessment Year (A.Y.) 2012-13.

raised by the Revenue read are as under:- “1. The Ld. CIT(A) erred on facts and in law in allowing appeal of the assessee and directing the AO to pass rectification order u/s. 154.

2. The Ld. CIT(A) erred on facts and in law in not appreciating the fact that department has assessed what the assessee itself has disclosed and as such, there was no mistake apparent from records falling within the purview of section 154 of the Act and that the assessee cannot be DCIT vs. M/s. Meena Agency Ltd. AY 2012-13 - 2 - allowed to make fresh claims under the guise of ‘rectification of apparent mistake.’ 3. On the basis of the facts and circumstances of the case, the learned CIT(A) ought to have upheld the order of the Assessing Officer. 4. That the revenue craves leaves to add, amend, alter or withdraw any ground of appeal

5. It is therefore prayed that the order of the CIT(A), Jamnagar may kindly be set aside and that of Assessing Officer be restored.”

3. At the time of hearing of the appeal, it was submitted by the Ld.AR for the assessee that appeal filed by the Revenue is hit by recently issued CBDT Circular No.17 of 2019 dated 08/08/2019 revising the previous thresholds pertaining to tax effects. As per aforesaid Circular, all pending appeals filed by Revenue are liable to be dismissed as a measure for reducing litigation where the tax effect does not exceed the prescribed monetary limit which is now revised at Rs.50 Lakhs. In the instant case, the tax effect on the disputed issues raised by the Revenue is stated to be not exceeding Rs.50 lakhs and therefore appeal of the Revenue is required to be dismissed in limine.