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Income Tax Appellate Tribunal, “C”
Before: SHRI SAKTIJIT DEY, JM & SHRI S. RIFAUR RAHMAN, AM
Chandrakant M. Gada ITO – 27 (1) (4) 501, 5th floor, Silver, Room No. 409, Tower no. बिधम/ Court, M. G. Road, 6, 4th floor, Vashi Railway Vs. Ghatkopar (E), Station Complex, Vashi, Mumbai-400 077 Navi Mumbai-400 703. स्थायीलेखासं./जीआइआरसं./PAN No. ACIPG0396H (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Shri Kumar Padmapani Bora, DR by प्रत्यथीकीओरसे/Respondentby : Shri Dilip V. Nathani, AR सुनवाईकीतारीख/ : 18.12.2019 Date of Hearing घोषणाकीतारीख / : 08.01.2020 Date of Pronouncement आदेश / O R D E R
Per S. Rifaur Rahman, Accountant Member:
The present Appeal has been filed by the revenue against the order of Ld. Commissioner of Income Tax (Appeals) - 25 in short referred as ‘Ld. CIT(A)’, Mumbai, dated 10.08.2018 for Assessment Year (in short AY) 2009-10. Chandrakant M. Gada
At the outset, we notice that the tax effect of the relief granted by the Ld. Commissioner of Income Tax (Appeals) is below Rs. 50 lacs and as per Circular No.17 of 2019 dated 08.08.2019 issued by the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, Government of India, the CBDT has revised the monetary limit for filing appeals before the ITAT from the existing limit of Rs. 20 lacs to Rs. 50 lacs.
The Ld. Departmental Representative (DR) fairly conceded that this appeal is covered by the aforesaid circular issued by the CBDT. The Ld. DR submitted that in case this appeal falls in the exceptional case, the appeal may be allowed to recall.
We have gone through the order of the Ld. Commissioner of Income Tax (Appeals) and the grounds of appeals. We find that the tax effect in the above referred appeal is less than Rs. 50 lacs. Accordingly, we dismiss the aforesaid appeal filed by the Revenue as not maintainable/withdrawn.
5. Even on merit, the penalty was levied on estimation of disallowance on bogus purchase. The courts have held that penalty cannot be levied on estimation of income.