DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(1), BENGALURU vs. M/S. ASSETZ PROPERTY MANAGEMENT SERVICES PRIVATE LIMITED, BENGALURU

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ITA 158/BANG/2019Status: DisposedITAT Bangalore25 November 2019AY 2014-154 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 dismissed the Revenue's appeal in limine as the tax effect was below the prescribed monetary limit. Liberty was granted to the Revenue to seek recall if the tax effect exceeded the limit or if the issues fell under exceptions.

What were the facts?

The Revenue filed an appeal against the order of the CIT(A) for the assessment year 2014-15. The assessee's counsel submitted that the tax effect was below the threshold limit for filing appeals as per CBDT Circular No. 17/2019.

What were the issues?

The primary issue was whether the Revenue's appeal was maintainable given the tax effect and the applicability of CBDT Circular No. 17/2019.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B’’ BENCH : BANGALORE

Before: SHRI B.R BASKARAN & SMT. BEENA PILLAI

For Appellant: Smt. P Renuga Devi, JCIT (DR)
For Respondent: Shri Sudheendra, Advocate
Hearing: 25.11.2019Pronounced: 25.11.2019

O R D E R Per B.R Baskaran, Accountant Member

The appeal filed by the Revenue is directed against the order passed by the ld CIT(A) in the hands of the assessees and it relate to the asst. year 2014-15.

2.

At the outset, the ld counsels appearing for the assessees submitted that the tax effect involved in the issues contested by the Revenue does not exceed 50 lakhs in this appeal. Accordingly it was submitted that the Revenue is precluded from pursuing this appeal as per Circular No.17/2019 dated 8/8/2019 issued by Central Board of Direct Taxes, which has been clarified by CBDT as applicable to all pending appeals, vide its Instruction dated 20/8/2019. Accordingly, the Ld A.R submitted that the appeal is required to be dismissed in limine.

3.

The ld DR did not object to the submission made by the counsel for the assessee.

4.

Accordingly we dismiss the appeal of the Revenue in limine. However liberty is given to the Revenue to move application for recall of the order, if it is found that the tax effect involved on the issues disputed in the appeal is more than 50 lakhs or if it is found that the issues contested therein fall in the category of exceptions prescribed by the CBDT Circular or subsequently.

5.

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

Order pronounced in the Open Court on 25th November, 2019.

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