ACIT (OSD) 8(1), MUMBAI vs. SEAGREEN MARKETING P.LTD, MUMBAI

When the appeal was called for hearing, no one was present on behalf of the respondent assessee to represent the case. There is no application seeking adjournment either. Considering the nature of 2 Seagreen Marketing Pvt. Ltd. dispute, we proceed to dispose off the appeals ex–parte qua the assessee after hearing the learned Departmental Representative and on the basis of material available on record.

Heard the learned Departmental Representative and perused the materials available on record. As could be seen from the facts on record, the disputed addition on which the Revenue has preferred the present appeal is ` 1,01,68,637. As mentioned by the learned Commissioner (Appeals) in his order, the tax effect on the amount disputed by the Revenue works out to ` 46,04,799, which is below the monetary limit of ` 50 lakh, as per CBDT Circular no.17/2019, dated 8th August 2019. It also stands clarified by the CBDT that the revised monetary limit of ` 50 lakh as per the aforesaid CBDT Circular would also apply to all pending appeals. In view of the aforesaid, Revenue’s appeal deserves to be dismissed. However, the Revenue is given liberty to seek recall of this order if, at a later point of time, it is found that the appeal falls under any of the exceptions provided in the Circulars referred to above.