Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, ‘C’ BENCH, CHENNAI
Before: SHRI MAHAVIR SINGHAND SHRI GIRISH AGRAWAL
O R D E R
PER GIRISH AGRAWAL, AM:
This appeal by the Revenue is arising out of order by learned Commissioner of Income Tax (Appeals)-17, Chennai in dated 28.11.2018. The assessment was framed by the ITO, (Exemptions) Ward-2, Chennai for the assessment year 2014- 15 u/s.143(3) of the Income Tax Act, 1961 (hereinafter ‘the Act’), vide order dated 20.12.2016.
During the course of hearing before us, the ld.counsel for the assessee pointed out that the tax effect in this appeal is below Rs.50.00
2 lakhs. The ld.counsel for the assessee further submitted that in view of the CBDT Circular No.17/2019, dated 08.08.2019 brought out by the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, the appeal was not maintainable and be dismissed. The Ld. Senior DR also agreed to the facts stated by the Ld.counsel for the assessee.
We have heard the rival submissions and perused the material on record. We find from the records before us that the tax involved in the disputed issue is below Rs.50 lakhs and therefore, in view of the CBDT Circular No. 17/2019 dated 08.08.2019 no appeal should be filed by the Revenue before the Tribunal which has tax effect of Rs. 50.00 lakhs or less and this circular is also applicable retrospectively to all pending appeals. Therefore, the appeal filed by the Revenue is dismissed.
In the result, the appeal filed by the Revenue is dismissed.
Order pronounced in the open court on 3rd March, 2022 at Chennai.