DY CIT CENTRAL CIRCLE-4(1), MUMBAI vs. M/S. VINOD KUMAR BAJAJ & COMPANY HUF, MUMBAI

During hearing of captioned appeals by revenue, Ld. AR submitted that the appeals are not maintainable in terms of CBDT Circular No. 17/2019 dated 08/08/2019 [F.No.279/Misc.142/2007-TTJ(Pt.) since the tax effect in each of the appeal is below Rs.50 Lacs. For the same, our attention has been drawn to Form No.36 which mentions the quantum of tax effect. The Ld. AR also drew attention to para-3 of the circular which mandate Ld. AO to compute tax effect separately for each of the year in case of even composite orders of appellate authority. The Ld. DR could neither controvert the same nor could point out any exception as given in any of the circular.

Upon perusal of record, we find that the appeals are not maintainable in terms of low tax effect circular issued by CBDT vide Circular No. 17/2019 dated 08/08/2019 [F.No.279/Misc. 142/2007- TTJ(Pt.). This recent circular further enhances the monetary limit fixed in earlier Circular No.3 of 2018 dated 11/07/2018 issued by CBDT as amended on 20/08/2018. Hence, all the three appeals stand dismissed with a liberty to revenue to seek recall of the appeals, if at a later stage, it is found that the matter is covered by any exceptions provided in any of the circular or in case the tax effect in any of the appeals exceeds the prescribed monetary limit.

Resultantly, all the appeals stands dismissed. Order pronounced on 26th October, 2021.