DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-7(1)(1), BANGALORE vs. M/S TECHNOART CONTRUCTIONS PVT LTD, BANGALORE

The appeal filed by the revenue and the cross objection filed by the assessee are directed against the order dated 09-011-2018 passed by Ld CIT(A)-7, Bengaluru and they relate to the assessment year 2010-11.

At the time of hearing, the Ld D.R submitted that the tax effect involved in the appeal of the revenue is less than the monetary limit of Rs.50.00 lakhs fixed by the CBDT in its Circular no.17/2019 dated 08-08-2019. Accordingly, the Ld D.R submitted that the revenue is precluded from pursuing this appeal.

The Ld A.R agree with the submission made by Ld D.R. He further submitted that he is also not pursuing the cross objection filed by the assessee.

In view of the foregoing, the appeal of the revenue and the cross objection filed by the assessee are liable to dismissed. We order accordingly.

In the result, the appeal of the revenue and the cross objection of the assessee are dismissed. Order pronounced in the open court on 1st Oct, 2020.