THE ACIT, CENTRAL CIRCLE -1(4), CHENNAI vs. PRINCE GEM & JEWELLERY PVT.LTD., CHENNAI
In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.
What did the Tribunal hold?
The Tribunal accepted the assessee's submission that the tax effect was below the CBDT's monetary limit for appeals. Consequently, the appeals filed by the Revenue were deemed not maintainable.
What were the facts?
The Revenue filed four appeals before the ITAT against the orders of the CIT(A). The assessee argued that the tax effect in these appeals was below the monetary limit prescribed by the CBDT for filing appeals.
What were the issues?
Whether the appeals filed by the Revenue are maintainable before the Tribunal considering the tax effect in light of CBDT circulars.
AI-generated summary — verify with the full judgment below
Before: Shri V. Durga Rao & Shri G. Manjunatha
is at liberty to seek recall of the above order since, the ld. DR was not sure about as to whether the issue raised in the appeal of the Revenue is not arising out of RAP objection as no specific ground was raised in the grounds of appeal.
In the result, the appeals in 2216, 2217 & 2218/Chny/2017 filed by the Revenue are dismissed. Order pronounced on 19th May, 2022 at Chennai.
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