THE INCOME TAX OFFICER WARD 1(1), BILASPUR(CG) vs. M/S BILASPUR INFRASTRUCTURE PVT LTD, BILASPUR(CG)

The Ld. DRs filed applications seeking permission to withdraw all the appeals of Revenue in view of CBDT Circular No.17/2019 [F No.279/Mise.142/2007-ITJ (Pt)], dated 08-08-2019 read with Circular No.3 of 2018 dated 11.07.2018 revising the upward monetary limits for filing of appeals in Income Tax Cases before various Appellate Forums. He further submitted that the earlier CBDT Circular No.03/2019 dated 11.07.2018 fixed monetary limit for filing of appeals before the Tribunal at Rs.20 Lakhs. Such limit has been enhanced in the recent CBDT Circular dated 08.08.2019 (supra) from Rs.20 lakhs to Rs. 50 Lakhs. Thus, the tax effect on the addition is less than Rs.50 Lakhs.

The Ld. ARs representing several assessees filed their respective applications seeking permission to withdraw their Cross Objections in view of withdrawal of appeals by the Revenue on account of low tax effect.

Both sides heard. The Revenue is in appeal against the respective orders of Ld. CIT(Appeals) in deleting the additions. Undisputedly, the tax effect involved in these appeals is less than the monetary limit prescribed by the recent CBDT Circular No.17/2019 [F No.279/Mise.142/2007-ITJ (Pt)] dated 08-08-2019 read with Circular No.3 of 2018 dated 11.07.2018 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 appeals by the Department before the Tribunal. Since the Ld. DR and Ld. ARs filed applications for withdrawal of appeals and cross objections, we accordingly, permit them to withdraw all the appeals and cross objections. Accordingly, all the appeals and cross objections are being dismissed as withdrawn.

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

In the combined result, all the appeals of the Revenue are dismissed and cross objections filed by the assessee are also dismissed.