DCIT-7(2)(2), MUMBAI vs. M/S NEXT GEN PUBLISHING LTD., MUMBAI

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ITA 1659/MUM/2019Status: DisposedITAT Mumbai20 January 2021AY 2010-113 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 found that the tax effect of the quantum additions was below the monetary threshold limit of Rs. 50 Lacs as per CBDT Circular No. 17/2019. Therefore, the appeal was not maintainable.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for Assessment Year 2010-11. The Assessee argued that the tax effect of the disputed additions was below the threshold limit prescribed by CBDT Circular No. 17/2019.

What were the issues?

Whether the Revenue's appeal is maintainable in light of the low tax effect of the disputed additions, as per the latest CBDT circular.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH, MUMBAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Shri Nitesh Joshi-Ld. AR
For Respondent: Shri Tharian Oommen- Ld. DR

Assessee by : Shri Nitesh Joshi-Ld. AR Revenue by : Shri Tharian Oommen- Ld. DR सुनवाई की तारीख/ : 20/01/2021 Date of Hearing घोषणा की तारीख / : 20/01/2021 Date of Pronouncement आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by Revenue for Assessment Year 2010-11, contests the order of Ld. Commissioner of Income Tax (Appeals) - 13, Mumbai [CIT(A)], Appeal No.CIT(A)-13/DCIT-7(2)(2)/158/2015- 16 dated 25/10/2018 on certain grounds.

2.

The Ld. Counsel for Assessee, at the outset, submitted that tax effect of quantum additions under dispute by revenue is below prescribed threshold limit of Rs.50 Lacs and therefore, the 2 M/s. Next Gen Publishing Ltd. Assessment Year: 2010-11 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.). In support, the order giving effect to appellate order has been placed on record. The Ld. DR could not point out any exception to controvert the plea raised by Ld. AR.

3.

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.

4.

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.

5.

Resultantly, the appeal stands dismissed.

Order pronounced on 20th January, 2021. (Mahavir Singh) (Manoj Kumar Aggarwal) उपा"" / Vice President लेखा सद" / Accountant Member मुंबई Mumbai; िदनांक Dated : 20/01/2021 Sr.PS, Jaisy Varghese

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