DCIT, CIRCLE 12 (1)(1), MUMBAI vs. ARVIVA INDUSTRIES (I) LTD., RAIGAD

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ITA 6404/MUM/2019Status: DisposedITAT Mumbai24 June 2021AY 2012-133 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeal of the Revenue was not maintainable as the penalty amount fell below the monetary limit prescribed by CBDT Circular No. 17/2019. The exception for quantum proceedings was not applicable to penalty proceedings.

What were the facts?

The Revenue appealed against the deletion of penalty levied under Section 271(1)(c) for bogus purchases. The penalty was levied on an estimated addition made by the Assessing Officer.

What were the issues?

Maintainability of Revenue's appeal before the ITAT due to monetary limits prescribed by CBDT circular, and applicability of exceptions to penalty proceedings.

Which sections of the Income-tax Act were involved?

Section 271(1)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, MUMBAI

Before: SHRI MAHAVIR SINGH, VP & SHRI M. BALAGANESH, AM

For Appellant: Shri Brajendra Kumar, DR
Hearing: 21.06.2021Pronounced: 24.06.2021

O R D E R

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