DY CIT -CC-8(1), MUMBAI vs. M/S. J.K. INVESTORS (BOMBAY) LTD., MUMBAI

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ITA 1041/MUM/2021Status: DisposedITAT Mumbai05 January 2022AY 2014-153 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the revenue's appeal based on the CBDT Circular No. 17/2019, which stipulates that no appeal should be filed where the tax effect is below Rs. 50 lakhs. This circular is also applicable to pending cases.

What were the facts?

The revenue filed an appeal against an order of the CIT(A) which granted partial relief to the assessee. The tax effect in the appeal was below Rs. 50 lakhs.

What were the issues?

Whether the revenue's appeal is maintainable before the Tribunal given the low tax effect, as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

For Appellant: Shri. Achal Sharma. DR
For Respondent: Shri .Kunal Pandey. AR
Hearing: 04.01.2022Pronounced: 07.01.2022

O R D E R

PER PAVAN KUMAR GADALE JM:

1.

The revenue has filed the appeal against the order passed by the Commissioner of Income Tax (Appeals)-50, Mumbai passed u/s 143(3) and 250 of the Act.

2.

At the time of hearing, the Ld.AR of the assessee submitted that the tax effect in the appeal is below Rs.50 lakhs and is covered by the CBDT Circular No. 17/2019 dated 08.08.2019. Further the Ld. AR submitted that the addition made by the A.O is Rs.1,41,24,270/- and the M/s. JK Investors (Bombay) Ltd, Mumbai. - 2 - CIT(A) has granted partial relief to the assessee and also the tax effect in the appeal is below Rs.50 lakhs. The Ld.DR has accepted the low tax effect aspects and applicability of CBDT circular. We find as per the CBDT Circular dated 08.08.2019, no appeal shall be filed by the revenue before the Hon’ble Tribunal where the tax effect is below Rs 50 lakhs. Further the circular of the CBDT is also applicable to the pending cases. Accordingly, we dismiss the revenue appeal on maintainability and low tax effect.

3.

In case, if the revenue is able to provide evidence that the case falls under any of the exceptions provided in the circular issued by the CBDT. The revenue may prefer miscellaneous application for recalling of this order, if they so desire, in which circumstances, this order shall be recalled by the Hon’ble Tribunal.

4.

In the result, the appeal filed by the revenue is dismissed. Order pronounced in the open court on 07.01.2022.

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