DCIT 3(2)(1), MUMBAI vs. INVENTURUS KNOWLEDGE SOLTIONS P.LTD, MUMBAI

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ITA 2471/MUM/2017Status: DisposedITAT Mumbai07 January 2020AY 2011-122 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. This was due to the tax effect involved being less than Rs. 50.00 lakhs, which precluded the Revenue from pursuing the appeal as per CBDT Circular No. 17/2019.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order deleting a penalty of Rs. 33,74,885/- levied under Section 271G. The assessment year in question was 2011-12.

What were the issues?

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

Which sections of the Income-tax Act were involved?

Section 271G

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “K” Bench, Mumbai

Before: Shri Shamim Yahya (AM) & Shri Pawan Singh (JM)

For Appellant: Shri S.C. Tiwari & Ms
For Respondent: Shri Rajesh Kumar Mishra
Hearing: 13.11.2019Pronounced: 07.11.2019

The appeal filed by the Revenue is directed against the order dated 27.12.2016 passed by the learned CIT(A) and it relates to A.Y. 2011-12. The Revenue is aggrieved by the decision of the learned CIT(A) in deleting the penalty of Rs. 33,74,885/- levied u/s. 271G of the Act.

2.

At the outset it is noted that the tax effect involved on the issue in the appeal under dispute is less than Rs.50.00 lakhs and hence the Revenue is precluded from pursuing this appeal as per CBDT vide Circular No. 17/2019 dated 8.8.2019. Accordingly, this appeal by the Revenue is dismissed in limine on account of tax effect.

2 Inventurus Knowledge Solutions Pvt. Ltd.

3.

In the result, the appeal filed by the Revenue is dismissed. Order has been pronounced in the Court on 7.10.2020.

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