THE ITO-WARD-2(2)(5), SURAT vs. SHRI NAREN S BURADE,

ITA 1126/AHD/2016Status: DisposedITAT Surat16 November 2018AY 2011-123 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the Revenue's appeal was not maintainable as the tax effect was below the monetary limit specified in the CBDT circular. The circular was applicable retrospectively to pending appeals.

What were the facts?

The Revenue appealed against the deletion of an addition of Rs. 44,04,303/- made under Section 10A. The assessee argued that the tax effect was below the Rs. 20 lakhs limit prescribed by a CBDT circular for filing appeals.

What were the issues?

Whether the Revenue's appeal is maintainable before the Tribunal given the tax effect is below the prescribed monetary limit as per CBDT circular.

Which sections of the Income-tax Act were involved?

Section 10A,Section 268A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, SURAT–BENCH, SURAT

Before: SHRI RAJPAL YADAV & SHRI AMARJIT SINGH

Hearing: 16/11/2018Pronounced: 16/11/2018

PER RAJPAL YADAV, JUDICIAL MEMBER:

Revenue is in appeal before the Tribunal against order of ld.CIT(A)-III, Surat dated 5.2.2016 passed for the Asstt.Year 2011-12. 2. In the grounds of appeal, Revenue has challenged deletion of addition of Rs.44,04,303/- made by the AO on account of exemption u/s.10A of the Act.

3.

At the very outset, the ld.counsel for the assessee has drawn our attention towards recent CBDT Circular restricting filing of appeal by the Revenue before the Tribunal where tax effect is below Rs.20 lakhs. He pointed out that tax effect in the present case is below monetar

The order continues below.

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