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Income Tax Appellate Tribunal, NAGPUR BENCH, NAGPUR
Before: SHRI D. KARUNAKARA RAO, AM & SHRI VIKAS AWASTHY, JM
आदेश / ORDER
PER VIKAS AWASTHY, JM :
The appeal has been filed by the Revenue against the order of Commissioner of Income Tax (Appeals)-1, Nagpur dated 29-01-2018 for the assessment year 2014-15.
Shri Abhay Agarwal appearing on behalf of the assessee submitted at the outset that the appeal by Revenue is liable to be dismissed on account of low tax effect in terms of recent CBDT Circular No. 3/2018, dated 11-07-2018.
Shri Shri U.U. Kasar representing the Department stated that apparently in the present appeal by the Department tax effect is less than Rs.20 Lakhs.
We have heard the submissions of ld. DR and have perused the material available on record. The Revenue is in appeal against the order of Commissioner of Income Tax (Appeal) in deleting the addition of Rs.56,48,750/- made by the Assessing Officer on account of deemed dividend u/s. 2(22)(e) of the Income Tax Act, 1961 (hereinafter referred to as “the Act”). Prima-facie, the tax effect involved in appeal is less than the
3 ITA No. 499/NAG/2014, A.Y. 2007-08
monetary limit prescribed by CBDT Circular for filing of appeals before the Tribunal by the Department. The CBDT vide Circular No. 3/2018, dated 11- 07-2018 has raised the monetary limit of tax effect for filing of appeals by the Department before the Tribunal to Rs.20 lakhs. The Circular applies to the appeals to be filed by the Department in future as well as the appeals pending before the Tribunal. Without going into merit of the issues raised in the appeal, in view of the CBDT Circular the present appeal of the Revenue is 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 appeal, with the requisite material to show that the appeal is protected by the exceptions mentioned in Para 10 of the Circular (supra).
In the result, appeal of the Revenue is dismissed.
Order pronounced in the open court at the time of hearing on Thursday, the 28th day of March, 2019.
Sd/- Sd/- (डी. करुणाकरा राव/D. Karunakara Rao) (ववकास अवस्थी / Vikas Awasthy) ऱेखा सदस्य / ACCOUNTANT MEMBER न्याययक सदस्य / JUDICIAL MEMBER
नागऩुर / Nagpur; ददनाांक / Dated : 28th March, 2019. RK
4 ITA No. 499/NAG/2014, A.Y. 2007-08
आदेश की प्रयिलऱवऩ अग्रेवषि / Copy of the Order forwarded to : अऩीऱाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. आयकर आयुक्त (अऩीऱ) / The CIT(A)-III, Nagpur 3. 4. The CIT (Central), Nagpur ववभागीय प्रयतयनधध, आयकर अऩीऱीय अधधकरण, नागऩुर बेंच, 5. नागऩुर / DR, ITAT, Nagpur Bench, Nagpur. गाडड फ़ाइऱ / Guard File. 6. //सत्यावऩत प्रयत // True Copy// आदेशानुसार / BY ORDER,
यनजी सधचव / Private Secretary, आयकर अऩीऱीय अधधकरण, नागऩुर / ITAT, Nagpur