THE ITO,CORP CIR-1(1), KOCHI vs. M/S.FANCY CONSTRUCTIONS P. LTD, KOCHI

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ITA 244/COCH/2019Status: DisposedITAT Cochin14 August 2019AY 2014-153 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeals filed by the Revenue, citing CBDT Circular No. 17/2019 which mandates that appeals with a tax effect below Rs. 50 lakh should not be filed. The issues raised were left open for future proceedings.

What were the facts?

The Revenue filed appeals before the ITAT for assessment years 2014-2015 and 2015-2016. The tax effect in these appeals was less than Rs. 50 lakh.

What were the issues?

Whether appeals filed by the Revenue with a tax effect below the prescribed monetary limit are maintainable before the ITAT, in light of CBDT Circular No. 17/2019.

Which sections of the Income-tax Act were involved?

Section 268A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri Chandra Poojari, AM & Shri George George K, JM

Hearing: 14.08.2018Pronounced: 14.08.2019

Heard together (2 matters)

ITA No.244/Coch/2019
ITA No.245/Coch/2019

Read from the judgment's own cause title. This page is filed under one of them.

Per George George K, JM

These appeals at the instance of the Revenue are directed against the consolidate order of the Commissioner of Income-tax (Appeals) dated 02nd January, 2019. The relevant assessment years are 2014-2015 and 2015-2016.

2.

It is observed that the tax effect in these appeals filed by the Revenue is less than Rs.50 lakh and therefore the Circular No. 17/2019 dated 8th August, 2019 issued by the Central Board of Direct Taxes (CBDT) in exercise of its power vested under Sec. 268A of the I.T. Act comes into play, wherein, the monetary limit for filing the appeal(s) by the Revenue before the ITAT and various High Courts as well as Apex Court are revised with an object of reducing the tax litigation. Vide para

ITA Nos.244-245/Coch/2019 2 M/s.Fancy Constructions Pvt. Ltd. 2 of the said circular (supra), it is stated that in cases where the tax effect in the appeal to be filed before the Appellate Tribunal does not exceed Rs. 50 lakh, appeal should not be filed. Thus, taking a note of CBDT Circular No. 17/2019 dated 8th August, 2019 and considering the fact that the tax effect in the instant appeals is less than Rs.50 lakh, the present appeals deserve to be dismissed, as not maintainable. However, we make it clear that the issue(s) raised in the instant appeals is left open to be examined in the appropriate proceedings, if arises, in future. At the same time, we also make it clear that if the appeals fall in any of the exceptions referred to in the above said CBDT Circular, the Revenue is at liberty to move an application for recalling the order, if so, advised.

3.

Accordingly in the light of CBDT Circular No.17/2019 dated 08th August, 2019, the appeals stand dismissed.

4.

In the result, the appeals filed by the Revenue are dismissed.

Order pronounced on this 14th day of August, 2019.

Sd/- Sd/- (Chandra Poojari) (George George K) ACCOUNTANT MEMBER JUDICIAL MEMBER

Cochin ; Dated : 14th August, 2019. Devdas*

ITA Nos.244-245/Coch/2019 3 M/s.Fancy Constructions Pvt. Ltd.

Copy of the Order forwarded to : 1. The Appellant 2. The Respondent. 3. The Pr.CIT, Kochi. 4. The CIT(Appeals)-I, Kochi. 5. DR, ITAT, Cochin 6. Guard file.

BY ORDER,

(Asstt. Registrar) ITAT, Cochin

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