DCIT-2(3)(1), MUMBAI vs. M/S TATA CHEMICALS LTD, MUMBAI

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ITA 3861/MUM/2019Status: DisposedITAT Mumbai26 November 2020AY 2014-153 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 held that the tax effect of the disputed amount was below the revised monetary limit of ₹50 lakh as per CBDT Circulars. Therefore, the Revenue's appeal was dismissed.

What were the facts?

The Revenue filed an appeal against an order of the CIT(A) for AY 2014-15. The assessee did not appear, and the appeal was heard ex-parte. The Departmental Representative conceded that the tax effect was below the monetary limit prescribed by CBDT circulars.

What were the issues?

Whether the Revenue's appeal should be dismissed on the grounds of low tax effect as per CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY & SHRI MANOJ KUMAR AGGARWAL

For Respondent: Ms. Leena Srivastava

The aforesaid appeal has been filed by the Revenue challenging the order dated 6th March 2019, passed by the learned Commissioner of Income Tax (Appeals)–6, Mumbai, pertaining to the assessment year 2014–15.

2.

When the appeal was called for hearing, no one was present on behalf of the respondent assessee to represent the case. There is no 2 Tata Chemicals Ltd.

application seeking adjournment either. Considering the nature of dispute, we proceed to dispose off the appeal ex–parte qua the assessee after hearing the learned Departmental Representative and on the basis of material available on record.

3.

During the course of hearing, on a query from the Bench, the learned Departmental Representative fairly submitted that the tax effect on the amount disputed in the present appeal is below the monetary limit of `50,00,000, as per CBDT Circular no.17 of 2019, dated 8th August 2019.

4.

Having considered the submission of the learned Departmental Representative and perused the material on record, prima facie, we are of the view that the tax effect on the amount disputed by the Revenue in the present appeal is below the revised monetary limit of ` 50 lakh as per CBDT Circular no.17/2019, dated 8th August 2019, r/w CBDT Circular no.3/2018, dated 11th July 2018. It also stands clarified by the CBDT that the revised monetary limit of ` 50 lakh as per the aforesaid CBDT Circulars 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 tax effect is more than `. 50

3 Tata Chemicals Ltd. lakh, or, the appeal falls under any of the exceptions provided in the Circulars referred to above. 5. In the result, Revenue’s appeal is dismissed. Order pronounced on 26.11.2020.

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