ASSISTANT COMMISSIONER OF INCOME-TAX, CIRCLE - 1,, KOLHAPUR vs. BHOGAWATI SAHAKARI SAKHAR KARKHANA LTD,, KOLHAPUR

This appeal by the Revenue is directed against the order passed by the ld. CIT(A)-1, Kolhapur on 07-08-2018 in relation to the Assessment Year 2015-16.

Admittedly, the tax effect involved in this appeal is below monetary limit fixed by the CBDT Circular vide its latest Circular No. 17/2019, dated 08-08-2019. Thus, grounds raised by the Revenue fail and the appeal is not maintainable. Therefore, the appeal of Revenue is dismissed as withdrawn in terms of CBDT Circular mentioned here-in-above.

However, it is made clear that if the tax effect in this particular appeal is found out to be more than the prescribed monetary limit of Rs.50.00 lakh or the case is covered by an exception, it will be open to the Revenue to move the Tribunal for taking necessary action.

In the result, the appeal of Revenue is dismissed. Order pronounced in the Open Court on 13th January, 2022.