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Income Tax Appellate Tribunal, MUMBAI BENCH “H”, MUMBAI
Before: Shri G MANJUNATHA
O R D E R Per G MANJUNATHA, AM :
This appeal filed by the Revenue is directed against order of the ld.
Commissioner of Income tax (Appeals)-8, Mumbai, dated 20/11/2018 and it pertains to AY 2015-16.
We have heard both parties, perused materials available on record
2 ITA .No.342/Mum/2019 Headway Capital Advisors Ltd. and goe through orders of the authorities below. During course of hearing, the ld. AR for the assessee submitted that tax effect involved in this appeal filed by the revenue is less than Rs. 50 lacs and in view of latest CBDT circular No. 17/2019 dated 08/08/2019, appeal filed by the revenue is not maintainable and needs to be dismissed. The Ld. DR, on the other hand, fairly accepted that disputed tax involved in this appeal is less than Rs. 50 Lacs, however, he further submitted that issue involved in this appeal is appears to be covered by exception as provided under clause (e) of subsequent circular and therefore, if required the revenue shall be allowed to file miscellaneous application to recall the order.
We, find that, the CBDT, recently had issued a circular no. 17/2019 dated 08/08/2019, superseding its earlier circular no. 03/2018, dated 11/07/2018 and enhanced monetary limit for filing appeal before various appellate authorities and accordingly, enhanced monetary limit to Rs. 50,00,000/- for filing appeal before the Tribunal. Further, in the said circular, the CBDT had instructed its officer’s to file application for withdrawal of pending appeals. We, therefore, by taking into account the CBDT circular no.17/2019 dated 08/08/2019 and also considering the fact that tax effect involved in the present appeal is less than the amount of monetary limit fixed by the CBDT for not filing appeal before Tribunal, dismissed appeal filed by the revenue as not maintainable. However, we
3 ITA .No.342/Mum/2019 Headway Capital Advisors Ltd. keep open option to the revenue to file a miscellaneous application, if necessary, in case the issues involved in the present appeal comes within any of 3 exceptions as provided in para 10 of said circular and clause (e) of subsequent circular and if disputed tax involved exceeds threshold limit provided in CBDT circular.
In the result, appeal filed by the Revenue is dismissed.
Order pronounced in the open court on 02.03.2020