What did the Tribunal hold?

The Tribunal held that the appeal was not maintainable due to the revised monetary limit for filing appeals before the Tribunal as per CBDT Circular No. 17/2019. The appeal was dismissed as withdrawn.

The Revenue filed an appeal against an order of the CIT(A) for AY 2007-08. The tax effect involved in the appeal was below Rs. 50 Lakhs.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal before the ITAT based on the tax effect and the applicability of CBDT circulars regarding monetary limits for appeals.

ACIT vs M/S. Pankaj Diamonds, Surat | ITAT Surat 2019

Income Tax Appellate Tribunal, SURAT BENCH, SURAT

Before: SHRI AMARJIT SINGH & SHRI O.P.MEENA

For Respondent: Shri Mayank Pandey – Sr.DR

Hearing: 03.10.2019

ACIT, Circle-9, Surat. Vs. Pankaj Diamonds /ITA No.2514/Ahd/2014 for A.Y. 2007-08 Page 1 of 2

आयकरअपील�यअ�धकरण,सुरत�यायपीठ,सुरत IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI AMARJIT SINGH, JUDICIAL MEMBER AND SHRI O.P.MEENA, ACCOUNTANT MEMBER आ.अ.सं./I.T.A No.2514/AHD/2014: �नधा�रण वष�/Assessment Year: 2007-08 Assistant Commissioner of Income V Pankaj Diamond, 4-7, Krishna Tax, Circle-9, Surat. . Diamond Park, Near GEB, Varachha Road, Kapodara, Surat – 395006. [PAN: AADFP 5145 L] अपीलाथ� / Appellant ��यथ�/Respondent

�नधा�रतीक�ओरसे /Assessee by None. राज�वक�ओरसे /Revenue by Shri Mayank Pandey – Sr.DR

सुनवाईकीतारीख/ Date of hearing: 03.10.2019 उ�घोषणाक�तार�ख/Pronouncement on: 03.10.2019 आदेश /O R D E R PER O.P.MEENA, AM: 1. This appeal by the Revenue is directed against an order of learned Commissioner of Income tax (Appeals)-V, Surat (in short “the CIT (A)”) dated 26.06.2014 for the A.Y. 2007-08.

We have heard the above appeal, and find that the tax effect involved, is below Rs.50Lakhs. The CBDT vide Circular No.17/2019 dated 8th August 2019 [F.No.279/ Misc.142/ 2007-ITJ (Pt)] by amending Para 3 of CBDT Circular No.3/2018 dated 11.07.2018 has enhanced the monetary limit for filing of appeal before Tribunal at Rs.50 lakhs and has also removed anomaly in Para 5 of said Circular No. 3/2018.We find that the present case do not fall within the exceptions clause 10 of said Circular No.3/2018. Further, the above circular is also applicable to all pending appeals as clarified by the

ACIT, Circle-9, Surat. Vs. Pankaj Diamonds /ITA No.2514/Ahd/2014 for A.Y. 2007-08 Page 2 of 2

CBDT Vide letter dated 20.08.2019 [F.No.279/Misc./M-93/2018-ITJ] and in the light of judgement of Hon`ble Supreme Court in the case of Pr. CIT, Jaipur v. Meenakshi Modi SLP (Civil) Diary No. 25076 of 2019-dated 16.08.2019 wherein the Hon`ble Supreme Court has dismissed the appeal of Revenue, as tax involved was less than Rs. 2 Crores. Therefore, the present appeals are not maintainable as per above Circular No. 17/2019, hence dismissed as withdrawn. However, the Revenue is at liberty to approach to this Tribunal for recalling this order, if it comes to the notice of the AO that the tax effect is more than the monetary limit prescribed under the said Circular or the appeal(s) is falls within the ambit of the exceptions provided under the said Circular. 3. In the result, appeal of the Revenue is dismissed as withdrawn. 4. The order pronounced in the open court on 03-10-2019.

` Sd/- Sd/- (AMARJIT SINGH) (O.P.MEENA) (�याियक सद�यतथा/JUDICIAL MEMBER) (लेखा सद�यकेसम� /ACCOUNTANT MEMBER) सुरत/ Surat, �दनांक Dated: 4th October, 2019/S.Gangadhara Rao, Sr.PS Copy of order sent to- Assessee/AO/Pr. CIT/ CIT (A)/ ITAT (DR)/Guard file of ITAT. By order / / TRUE COPY / / Assistant Registrar, Surat

THE ACIT, CIRCLE-9, SURAT vs. M/S. PANKAJ DIAMONDS, SURAT

What did the Tribunal hold?

What were the facts?

What were the issues?

Recent GST High Court judgments