ACIT-27(1), MUMBAI, MUMBAI vs. M/S. BHANU CONSTRUCTION, MUMBAI

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ITA 5742/MUM/2019Status: DisposedITAT Mumbai26 April 2021AY 2011-123 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 noted that the tax effect was below the monetary limit prescribed by CBDT Circular No. 17/2019 for filing appeals before the ITAT. The Departmental Representative could not provide any exceptions.

What were the facts?

The Revenue filed an appeal before the ITAT against an order related to penalty under section 271(1)(c) for Assessment Year 2011-12. The tax effect in the appeal was ₹4,44,000.

What were the issues?

Whether the appeal filed by the Revenue is maintainable considering the tax effect below the prescribed monetary limit as per CBDT circulars.

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, “B” BENCH, MUMBAI

For Appellant: Shri Tharian Oommen, DR
Hearing: 26.04.2021Pronounced: 26.04.2021

O R D E R भहावीय स िंह, उऩाध्मक्ष के द्वाया / PER MAHAVIR SINGH, VP: This appeal of Revenue is arising out of the order of the Commissioner of Income Tax (Appeals)]-25, Mumbai, [in short CIT(A)], in appeal No. CIT(A)-25/IT-20 & 21/2018-19 dated 10.06.2019. The assessment was framed by the Income Tax Officer (in short ITO/ AO),

2.

At the outset, the learned Counsel for the assessee stated that the tax effect in this appeal is ₹4,44,000/-, which is below the tax effect as prescribed vide CBDT Circular No. 17/2019 vide F.No. 279/Misc.142/2007-ITJ(Pt.) dated 08.08.2019, wherein the monetary limit for filing of appeal before ITAT is enhanced to ₹50 lacs. We noted that vide this circular No. 17/2019 dated 08.08.2019 an amendment was made to CBDT Circular No. 3/2018 dated 11.07.2018 vide F.No. 279/Misc. 142/2007-ITJ (Pt) increasing the monetary limit for filing of appeal before Income Tax Appellate Tribunal i.e. ₹ 50 lacs in each of the case from the monetary limit of ₹20 lacs. Admittedly, in this case tax effect is below prescribed limit of ₹ 50 lacs for filing of appeal before the Tribunal.

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