ITO 31(3)(2), MUMBAI vs. RUSTOMJEE OZONE CO OP HOUSING SOCIETY LIMITED, MUMBAI

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ITA 3998/MUM/2018Status: DisposedITAT Mumbai08 February 2021AY 2014-153 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 dismissed the Revenue's appeal as not maintainable. This was based on a CBDT circular directing withdrawal of appeals where the tax effect is below a certain threshold.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A). Both parties agreed that the appeal should be dismissed.

What were the issues?

Maintainability of the Revenue's appeal before the ITAT based on CBDT circular regarding tax effect.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VIRTUAL COURT

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

For Appellant: Shri Kishor Rajeshirke
For Respondent: Shri Sanjay Sethi, Shri Kishor Rajeshirke
Hearing: 08/02/2021Pronounced: 08/02/2021

आदेश / O R D E R PER M. BALAGANESH (A.M):

1.

This appeal in A.Y.2014-15 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-42, Mumbai in appeal No.CIT(A)-42/IT-200/16-17 dated 27/03/2018 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 15/12/2016 by the ld. Income Tax Officer – 31(3)(2), Mumbai (hereinafter referred to as ld. AO).

M/s. Rustomjee Ozone Co-op Housing Society Limited

2.

Both the parties before us mutually agreed that this revenue appeal is to be dismissed as not maintainable in view of the recent Circular issued by the CBDT dated 08/08/2019 wherein the revenue has been directed to withdraw the appeal preferred by it before the Tribunal if the tax effect on the disputed issues is less than or equal to Rs.50,00,000/-. It is well settled that this Circular is binding on the revenue authorities.

3.

Respectfully following the said Circular, the appeal filed by the revenue is dismissed as not maintainable.

4.

Incase, if the revenue is able to provide evidence that the case falls under any of the exceptions provided in the circular issued by the CBDT, then the revenue may prefer miscellaneous application for recalling of this order, if they so desire, in which circumstance this order shall be recalled by this Tribunal.

5.

In the result, appeal filed by the revenue is dismissed as not maintainable.

Order pronounced in open Court on 08/02/2021.

Sd/- Sd/- (MAHAVIR SINGH) (M.BALAGANESH) VICE PRESIDENT ACCOUNTANT MEMBER Mumbai; Dated 08/02/2021 KARUNA, sr.ps

M/s. Rustomjee Ozone Co-op Housing Society Limited

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