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Income Tax Appellate Tribunal, ‘A’ BENCH, KOLKATA
Before: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey
Per Shri P.M. Jagtap, Vice-President:- This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-12, Kolkata dated 01.03.2017 and the solitary issue involved therein relates to the deletion by the ld. CIT(Appeals) of the addition of Rs.1,17,40,659/- made by the Assessing Officer by way of disallowance under section 40(a)(ia) of the Income Tax Act, 1961.
At the outset, the ld. Counsel for the assessee has pointed out that the tax effect involved in this appeal of the Revenue is less than the monetary limit of Rs.50,00,000/- fixed by the C.B.D.T. for filing the appeal Assessment Year: 2009-2010 Shri Anil Kumar Nevatia by the Revenue before the Tribunal and this position is not disputed even by the ld. D.R. In the Circular No. 17/2019 dated 8th August, 2019 issued by the C.B.D.T., the monetary limit for filing the appeal by Revenue before the Tribunal is revised to Rs.50,00,000/-. As further clarified in the said Circular, the monetary limit so revised is applicable even to the pending appeals and the same are directed to be withdrawn or not pressed. We accordingly treat this appeal as withdrawn /not pressed on account of low tax effect in view of the CBDT Circular No.17/2019 dated 8th August, 2019 and dismiss the same.
In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open Court on March 12, 2021.