ACIT 2(1) CITY-2, MUMBAI vs. GODAVARI SUGAR MILLS LTD, MUMBAI

These appeals in 5363/Mum/2011 for A.Y.2007-08 arise out of the order by the ld. Commissioner of Income Tax (Appeals)-4, Mumbai in appeal No.CIT(A)-4/IT-34/AC.2(1)/2010-11 respectively dated 31/05/2011 (ld. CIT(A) in short) against the order of 5362/Mum/2011 M/s.Somaiya Properties & Inv. Pvt. Ltd., formerly M/s. Godawari Sugar Mills Ltd assessment passed u/s.154 of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 31/12/2009 by the Asst. Commissioner of Income Tax (OSD)-2(1), Mumbai (hereinafter referred to as ld. AO).

Both the parties before us mutually agreed that these revenue appeals are 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.

Respectfully following the said Circular, the appeals filed by the revenue are dismissed as not maintainable.

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.

In the result, appeals filed by the revenue are dismissed as not maintainable.