DCIT, CIR. -4(1), KOLKATA vs. M/S M.P.CHINI INDUSTRIES PVT LTD, KOLKATA

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ITA 91/KOL/2021Status: DisposedITAT Kolkata06 April 2022AY 2008-092 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 Revenue's appeal was not maintainable as it fell within the scope of the CBDT circular regarding tax effect. Consequently, the appeal was dismissed.

What were the facts?

The Revenue filed an appeal before the ITAT, which the assessee argued was not maintainable due to a CBDT circular limiting appeals with a tax effect below Rs. 50 lacs. The Tribunal noted the tax effect was indeed below this threshold.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal before the ITAT based on the tax effect and the applicability of CBDT circular No. 17/2019.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH: KOLKATA

Before: Shri A. T. Varkey, JM & Shri Girish Agrawal, AM]

Hearing: 06.04.2021Pronounced: 06.04.2021

Heard together (2 matters)

I.T.A. No. 91/Kol/2021
C.O. No. 01/Kol/2022

Read from the judgment's own cause title. This page is filed under one of them.

ORDER Per Bench: The appeal and the cross-objection preferred by the Revenue and assessee are against the order of Ld. CIT(A)-8, Kolkata dated 20.09.2019 for Assessment year 2008-09.

At the outset itself, the Ld. AR for the assessee submitted that revenue’ s appeal 2. is hit by CBDT circular No. 17/2019 dated 08.08.2019 and the tax effect involved in this appeal of revenue is less than Rs. 50 lacs, therefore, the revenue’s appeal before this Tribunal is not maintainable in view of cited CBDT circular No. 17/2019 dated 08.08.2019. Since the tax effect involved in this appeal of the revenue is stated to be less than Rs.50 lacs, we hold that the revenue appeal falls in the ken of CBDT circular (supra) and so we dismiss it as not maintainable.

CO No. 01/Kol/2022(Arising out of M/s M.P. Chini Industries Pvt. Ltd. A.Y. 2008-09 3. However, liberty is given to the revenue to recall this order provided the tax effect is found to be more than 50 Lakhs or the case falls under any of the exception clauses cited in the CBDT Circular (supra). If the revenue prefers application for recall of this order, then the C.O raised by the assessee (legal issue) will also be restored. Since we have dismissed the appeal of revenue, the cross objection filed by the assessee (though there is mistake in Form No. 36A) becomes infructuous since it is supporting the order of Ld. CIT(A) on the legal issue allowed by him and dismissed of revenue appeal makes the ground academic and is accordingly dismissed.

4.

In the result, the appeal and cross-objection of the revenue are dismissed.

Order is pronounced in the open court.

Sd/- Sd/- (Girish Agrawal) (A. T. Varkey) Accountant Member Judicial Member Dated: 06.04.2022 SB, Sr. PS Copy of the order forwarded to:

1.

Appellant- DCIT, Circle-4(1), Kolkata

2.

Respondent – M/s M.P. Chini Industries Pvt. Ltd, 117/K/13, Gutaiya, Kanpur, Uttarpradesh-208025 3. The CIT(A)- 8, Kolkata (sent through e-mail) 4. CIT- , Kolkata 5. DR, Kolkata Benches, Kolkata (sent through e-mail)

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