ITO, WARD - 40(1), KOLKATA, KOLKATA vs. SHRI ANIL KUMAR NEVATIA, KOLKATA

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ITA 1479/KOL/2017Status: DisposedITAT Kolkata12 March 2021AY 2009-102 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The Tribunal treated the appeal as withdrawn/not pressed due to the low tax effect, in line with CBDT Circular No. 17/2019. Consequently, the appeal filed by the Revenue was dismissed.

What were the facts?

The Revenue appealed against the deletion of an addition of Rs. 1,17,40,659/- by the CIT(Appeals). The tax effect involved in the appeal was below the monetary limit set by the CBDT for filing appeals.

What were the issues?

Whether the appeal filed by the Revenue is maintainable given the low tax effect below the CBDT's prescribed monetary limit.

Which sections of the Income-tax Act were involved?

Section 40(a)(ia)

AI-generated summary — verify with the full judgment below

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.

2.

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said Circular, the monetary limit so revised is applicable even to the pending appeals and the same are directed to be withdrawn or not pressed. We accordingly treat this appeal as withdrawn /not pressed on account of low tax effect in view of the CBDT Circular No.17/2019 dated 8th August, 2019 and dismiss the same.

3.

In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open Court on March 12, 2021.

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