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Income Tax Appellate Tribunal, SURAT BENCH, SURAT
Before: SHRI C.M.GARG & SHRI O.P.MEENA
आदेश /O R D E R PER O.P.MEENA, ACCOUNTANT MEMBER: 1. This appeal filed by the Revenue and Cross Objection by the
assessee is directed against the order of learned Commissioner of
Income Tax (Appeals)–V, Surat (in short “the CIT (A)”) dated
28.03.2012 pertaining to Assessment Year 2004-05 which in turn
has arisen from the order passed by the Assistant Commissioner of
Income Tax, Circle-7, Surat (in short “the AO”) dated 29.12.2011
under section 143(3) r.w.s 254 of Income Tax Act,1961 (in short
‘the Act’).
We have heard the Ld. Departmental Representative and
perused the material available on record and find that tax effect
involved in this appeal is below Rs. 20 Lakhs. The ld. DR also did
not dispute this fact. We find that the CBDT vide Circular
No.3/2018 Dated 11.07.2018 [F.No.279/Misc.142/2007-ITJ (Pt)]
has revised the monetary limit for filing of appeal before Tribunal
fixing the tax effect limit at Rs.20 lacs. The said Circular
C.B.Suratwala & Sons Vs. ACIT, Circle-7 /I.T.A. No.1515/Ahd/2012/SRT/2004-05 & CO.No.144/Ahd/2012 Page 3 of 4
supersedes the earlier Circular(s) issued on the subject of tax
effect and applies to all pending appeal retrospectively. The Board
has provided exceptions provided under para 10 of the Circular
wherein it has been provided that the issues related is to be
contested (a) where the Constitution validity of the provision of
the Act or (b) Rule is under challenge or (c) where Board`s order,
Notification, Instruction or Circular has been held to be illegal or
ultra vires, or where Revenue Audit objections has been accepted
by the Department or (d) where the addition relates to undisclosed
foreign assets/bank accounts, etc.
We find that the present case does not fall within the
exceptions clause and the tax demand is less than Rs.20 lacs.
Therefore, the present appeal is not maintainable as per recent
Circular (supra) and hence the same is dismissed. However, we
may make it clear that the Revenue is at liberty to approach the
Tribunal for recalling this order, if it comes to the notice of the
C.B.Suratwala & Sons Vs. ACIT, Circle-7 /I.T.A. No.1515/Ahd/2012/SRT/2004-05 & CO.No.144/Ahd/2012 Page 4 of 4
Assessing Officer that the tax effect is more than the monetary
limit prescribed under Circular or Revenue`s case falls within the
ambit of the exceptions provided in the Circular.
In the result, the appeal of the Revenue stands dismissed.
C.O.No.144/Ahd/2012/SRT for AY 2004-05 (by Assessee) 5. Since, by the earlier part of this order we have dismissed the appeal of the Revenue, therefore, Cross Objection of the assessee becomes infructuous, accordingly we dismiss the same as not pressed. 6. In the result, Cross Objection of the assessee is dismissed as not pressed. 7. Finally, appeal of the Revenue is dismissed and cross objection of the assessee is dismissed as not pressed. 8. The order pronounced in the open court on 23-08-2018.
Sd/- Sd/- (सी.एम.गग� /C.M. GARG) (ओ.पी.मीना/O.P.MEENA) �याियकसद�यतथा/JUDICIAL MEMBER लेखासद�यकेसम� /ACCOUNTANT MEMBER सुरत/ Surat, �दनांक Dated: 23rd Aug, 2018 / S.Gangadhara Rao,Sr.PS Copy of order sent to- Assessee/AO/Pr. CIT/ CIT (A)/ ITAT (DR)/Guard file of ITAT. By order / / TRUE COPY / / Assistant Registrar, Surat