DCIT- 16(2), MUMBAI vs. BSR & COMPANY, MUMBAI

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ITA 2548/MUM/2018Status: PendingITAT Mumbai09 January 2020AY 2013-142 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 Revenue's appeal was not maintainable due to the revised monetary limits specified in CBDT Circular No. 17 of 2019, as the tax effect did not exceed the prescribed limit.

What were the facts?

The Revenue filed an appeal against an order of the CIT(A) for AY 2013-14. The assessee argued that the appeal was hit by a new CBDT circular revising monetary thresholds for appeals.

What were the issues?

Whether the Revenue's appeal is maintainable in light of the revised monetary thresholds for filing appeals as per CBDT Circular No. 17 of 2019.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI ‘I’ BENCH, MUMBAI

Before: SHRI PRAMOD KUMAR, HON’BLE&

order

: January 9, 2020 O R D E R

Per Ms. Madhumita Roy, JM

1.

The appeal filed at the instance of the Revenue arising out of the order of the order passed by the Ld. CIT(A)-5, Mumbai dated 30.01.2018 under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) for A.Y. 2013-14.

2.

At the time of hearing, it was submitted by the Ld.AR for the assessee that appeal filed by the Revenue is hit by recently issued CBDT Circular No.17 of 2019 dated 08/08/2019 revising the previous thresholds pertaining to tax effects. As per aforesaid Circular, all pending appeals filed by Revenue are liable to be dismissed as a measure for reducing litigation where the tax effect does not exceed the prescribed monetary limit which is now revised at Rs.50 Lakhs. In the instant case, the tax effect on the disputed issues raised by the Revenue is stated to be not exceeding Rs.50 lakhs and therefore appeal of the Revenue is required to be dismissed in limine.

Assessment Year: 2013-14 M/s. BSR & Company 3. The Learned DR for the Revenue fairly admitted the applicability of the CBDT Circular No. 17 of 2019. Accordingly, appeal of the Revenue is dismissed as not maintainable. However, it will be open to the Revenue to seek restoration of its appeal on showing inapplicability of the aforesaid CBDT Circular in any manner.

4.

In the result, the appeal of the Revenue is dismissed.

Mumbai, the 9th day of January, 2020.

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