DCIT CENTRAL CIR (1) , MUMBAI vs. RAKSHA BULLION, MUMBAI

The aforesaid appeal has been filed by the revenue against the impugned order dated 10.01.2022, passed by Ld. CIT(A)-48,

At the outset, Ld. AR appeared on behalf of the assessee submitted that the tax effect of the relief granted by the Ld. Commissioner of Income Tax (Appeals) is below Rs. 50 lacs and as per Circular No.17 of 2019 dated 08.08.2019 [F.No.279/Misc.142/2007-TTJ(Pt.) issued by the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, Government of India, the CBDT has revised the monetary limit for filing appeals before the ITAT from the existing limit of Rs. 20 lacs to Rs. 50 lacs. In the light of the aforesaid facts, he submitted that this appeal is not maintainable and liable to be dismissed.

The Ld. Departmental Representative (DR) fairly conceded that this appeal is not maintainable in light of the aforesaid circular issued by the CBDT. The Ld. DR also did not point out that this appeal falls in any of the exceptions carved out in the above said circular.

We have gone through the order of the Ld. Commissioner of Income Tax (Appeals) and the grounds of appeals. We find that the 3 M/s Raksha Buillion tax effect in the above referred appeal is less than Rs. 50 lacs. Accordingly, we dismiss the aforesaid appeal filed by the Revenue as not maintainable/withdrawn.