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Income Tax Appellate Tribunal, “G” BENCH, MUMBAI
Before: HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM & HON’BLE SHRI RAVISH SOOD, JM
आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by revenue for Assessment Year [in short referred to as ‘AY’] 2015-16 contest the order of Ld. Commissioner of Income-Tax (Appeals)-8, Mumbai [in short referred to as ‘CIT(A)’], Appeal No.CIT(A)-8/IT-20/17-18, dated 25/03/2019 which has deleted certain disallowance of Rs.83.94 Lacs u/s 14A. The Ld. Counsel for Assessee, Ms. Pramila Rathi, at the 2. outset, submitted that tax effect of quantum additions being M/s. White Pearl Hotels & Investments Pvt. Ltd. Assessment Year: 2015-16 contested by the revenue is below prescribed threshold limit of Rs.50 Lacs and therefore, the revenue’s appeal is not maintainable in terms of latest low tax effect CBDT Circular No. 17/2019 dated 08/08/2019 [F.No.279/Misc. 142/2007-TTJ(Pt.). The Ld. DR could not point out any exception to controvert the plea raised by Ld. AR.
After going through material on record, we find that the tax effect of quantum additions under dispute is below threshold monetary limit of Rs.50 Lacs and therefore, the appeal is not maintainable in terms of recently issued low tax effect Circular No. 17/2019 dated 08/08/2019 [F.No.279/Misc. 142/2007-TTJ(Pt.) issued by CBDT. This recent circular further enhances the monetary limit fixed in earlier Circular No.3 of 2018 dated 11/07/2018 issued by CBDT as amended on 20/08/2018. In view of the same, the appeal is not maintainable.
At the same time, a liberty is given to revenue to seek recall of the appeal, if at a later stage, it is found that the matter is covered by any exceptions provided in any of the circular or in case the tax effect in the appeal exceeds the prescribed monetary limit.
Resultantly, the appeal stands dismissed. Order pronounced on 11th February, 2021.