DEPUTY COMMISSIONER OF INCOME TAX 8(1)(2), MUMBAI vs. SABERO ORGANICS GUJARAT LIMITED , MUMBAI

Aforesaid appeals by revenue for Assessment Years 2010-11 to 2013-14, contests separate orders of learned first appellate authority on certain grounds of appeal.

The assessee, vide email dated 05/01/2021, has submitted that the tax effect of quantum additions under dispute in revenue’s

In view of the foregoing, since undisputedly the tax effect of quantum additions under dispute for AYs 2010-11 & 2012-13 is below threshold limit of Rs.50 Lacs, the appeals are not maintainable in terms of Low Tax Effect Circular No. 17/2019 dated 08/08/2019 issued by CBDT. However, liberty is given to revenue to seek recall of any of the appeal, if the matter is found to be covered by any of the exceptions or in case the tax effect, in any of the appeal, exceeds the prescribed monetary limit. Both the appeals stand dismissed.

The revenue’s appeals for AYs 2011-12 & 2013-14 would become infructuous since the assessee has already opted for Vivad Se Vishwas Scheme (VVS Scheme), 2020 by filing requisite declarations. However, an opportunity is given to revenue to seek restoration of the appeals, in case the declarations are not accepted, for whatever reasons.

To conclude, ITA Nos. 5605/Mum/2017 & 5607/Mum/2017 for AYs 2010-11 & 2012-13 stands dismissed whereas ITA Nos. 5606/Mum/2017 & ITA 6436/Mum/2017 for AYs 2011-12 & 2013- 14 stand dismissed as being infructuous.