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Income Tax Appellate Tribunal, “K” Bench, Mumbai
Before: Shri Shamim Yahya (AM) & Shri Pawan Singh (JM)
The appeal filed by the Revenue is directed against the order dated 15.4.2015 passed by the learned CIT(A) and it relates to A.Y. 2010-11. The Revenue is aggrieved by the decision of the learned CIT(A) in deleting the Transfer pricing adjustment amounting to Rs. 28,27,840/-.
At the outset it is noted that the tax effect involved in the quantum 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.
In the result, the appeal filed by the Revenue is dismissed. Order has been pronounced in the Court on 06.01.2020.