DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-11(2)(2), MUMBAI vs. S.V.C. RESOURCES LTD, MUMBAI

When the appeal was called for hearing, none appeared on behalf of the respondent assessee. Therefore, we proceed to dispose off the 2 S.V.C. Resources Ltd.

The learned Departmental Representative fairly submitted before us that the tax effect on the disputed amount is below the revised monetary limit of ` 50 lakh, applicable to appeals pending before the Tribunal, as per CBDT Circular no.17 of 2019, dated 8th August 2019. Further, he also submitted that the exceptions provided in CBDT Circular no.3 of 2018, dated 11th July 2018 r/w circular F. no.279/ Misc./142/2007–ITJ–(Pt) dated 20th August 2018, would not apply to the present appeal.

Having considered the submissions of the learned Departmental Representative and after perusal of the material on record, we are of the view that the tax effect on the amount disputed by the Revenue in the present appeal is below the revised monetary limit of ` 50 lakh as per CBDT Circular no.17/2019, dated 8th August 2019, r/w CBDT Circular no.3/2018, dated 11th July 2018. It also stands clarified by the CBDT that the revised monetary limit of ` 50 lakh as per the aforesaid CBDT Circulars would also apply to all pending appeals. In view of the aforesaid, Revenue’s appeal deserves to be dismissed. However, the Revenue is given liberty to seek recall of this order if, at a later point

In the result, Revenue’s appeal is dismissed. Order pronounced in the open Court on 13.11.2019