ITO 17(2)(3), MUMBAI vs. M/S MAKER TOWER `E' PREMISES CO-OP SOCIETY LTD, MUMBAI

M/s Maker Tower ‘E’ Premises Co-op Society Ltd.; AY 14-15 Page | 2 06.12.2016 under section 143(3) of the Income-tax Act, 1961 (hereinafter ‘the Act’).

At the outset, the learned Counsel for the assessee stated that the tax effect in this appeal is ₹21,16,010/-, which is below the tax effect as prescribed vide CBDT Circular No. 17/2019 vide F.No. 279/Misc.142/2007-ITJ(Pt.) dated 08.08.2019, wherein the monetary limit for filing of appeal before ITAT is enhanced to ₹50 lacs. We noted that vide this circular No. 17/2019 dated 08.08.2019 an amendment was made to CBDT Circular No. 3/2018 dated 11.07.2018 vide F.No. 279/Misc. 142/2007-ITJ (Pt) increasing the monetary limit for filing of appeal before Income Tax Appellate Tribunal i.e. ₹ 50 lacs in each of the case from the monetary limit of ₹20 lacs. We noted that earlier Circular No. 3 of 2018 was made applicable to pending appeals also and this clause of the circular remains unchanged even after the amendment. Admittedly, in this case tax effect is below prescribed limit of ₹ 50 lacs for filing of appeal before the Tribunal.

When this was confronted to the learned Sr. Departmental Representative, he could not point out that this appeal falls under any of the exception as provided in Circular No. 3 of 2018, which are applicable to the present circular no. 17/2019. Admittedly, the tax effect in this appeal of Revenue is much below the prescribed limit of filing appeal before the Tribunal i.e. ₹ 50 lacs as per CBDT circular No. 17 of 2019. In view of M/s Maker Tower ‘E’ Premises Co-op Society Ltd.; AY 14-15 Page | 3 the above, this appeal of Revenue is dismissed as withdrawn in view of Circular No. 17 of 2019. This appeal of Revenue’s appeal is dismissed as withdrawn. 4. In the Result, the appeal of the Revenue is dismissed as withdrawn. Order pronounced in the open court on 07.07. 2020