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Income Tax Appellate Tribunal, “A” BENCH, PUNE
Before: SHRI D. KARUNAKARA RAO, AM & SHRI VIKAS AWASTHY, JM
आदेश / ORDER
PER VIKAS AWASTHY, JM :
These cross appeals by the assessee and the Revenue are against the order of Commissioner of Income Tax (Appeals)-3, Pune dated 21-11-2016 for the assessment year 2009-10.
Shri Chandrasekhar L.S. appearing on behalf of the assessee submitted at the outset that the appeal of Revenue is liable to be dismissed on account of low tax effect in terms of recent CBDT Circular No. 17/2019, dated 08-08-2019. The ld. AR of the assessee furnished calculation of tax effect involved in the appeal as Rs.33,78,513/-, including Surcharge and Education Cess. Thus, the tax effect on the addition is less than Rs.50 Lakhs.
The ld. AR further submitted that the assessee does not wish to pursue the appeal and hence, may be permitted to withdraw the same.
Ms. Shabana Parveen representing the Department fairly admitted that in the present appeal by the Department tax effect is less than Rs.50 Lakhs. The ld. DR further submitted that the Department has no objection if the assessee wishes to withdraw his appeal.
Both sides heard. The Revenue is in appeal against the order of Commissioner of Income Tax (Appeal) in allowing the benefit of deduction u/s. 54B of the Act to the assessee. Undisputedly, the tax effect involved
3 ITA Nos.770 & 1856/PUN/2017, A.Y. 2009-10
in appeal is less than the monetary limit prescribed by the recent CBDT Circular No. 17/2019, dated 08-08-2019 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. Thus, without going into merit of the issues raised in the appeal, in view of the CBDT Circular (supra) 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 prescribed in Para 10 of the Circular dated 11-07-2018 and its amendment dated 20-08-2018.
The assessee furnished a note giving calculations of tax effect involved in the appeal by the Revenue. In the same note, it is also mentioned that the assessee wishes to withdraw the appeal. The relevant extract of the same is reproduced as under : “Appeal No. 1856/PN/2017 This is an appeal preferred by the appellant assessee for the same assessment year and the appellant assessee would like not to press the grounds of appeal raised and would like to withdraw the appeal.”
Thus, in view of the statement made by ld. AR, the appeal of assessee is dismissed as withdrawn.
4 ITA Nos.770 & 1856/PUN/2017, A.Y. 2009-10
In the result, the appeal of assessee and Revenue are dismissed.
Order pronounced in the open court at the time of hearing on Tuesday, the 27th day of August, 2019.
Sd/- Sd/- (डी. करुणाकरा राव/D. Karunakara Rao) (ववकास अवस्थी / Vikas Awasthy) ऱेखा सदस्य / ACCOUNTANT MEMBER न्याययक सदस्य / JUDICIAL MEMBER ऩुणे / Pune; ददनाांक / Dated : 27th August, 2019 RK आदेश की प्रयिलऱवऩ अग्रेवषि / Copy of the Order forwarded to : अऩीऱाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. आयकर आयुक्त (अऩीऱ) / The CIT(Appeals)-3, Pune. 3. 4. The Pr. Commissioner of Income Tax-2, Pune. ववभागीय प्रयतयनधध, आयकर अऩीऱीय अधधकरण, “ए” बेंच, 5. ऩुणे / DR, ITAT, “A” Bench, Pune. गाडड फ़ाइऱ / Guard File. 6. //सत्यावऩत प्रयत // True Copy// आदेशानुसार / BY ORDER,
यनजी सधचव / Private Secretary, आयकर अऩीऱीय अधधकरण, ऩुणे / ITAT, Pune