I.T.O.,WARD-13(1), KOLKATA vs. M/S ESTEEM TRADECOM PVT LTD, KOLKATA

This revenue’s appeal for assessment year 2016-17 is directed against the CIT(A)-5, Kolkata’s order dated 02/04/2019 in appeal no. 723/CIT(A)-5/Ward- 13(1)/18-19/Kol involving proceedings u/s 143(3) of the Income Tax Act, 1961 ( in short the ‘Act’). Heard both the parties. Case file perused.

The learned Authorized Representative has filed written note at the outset that the instant appeal involves tax effect of Rs. 39,49,041/- i.e. less than Rs. 50 lacs. as per CBDT circular No. 17/2019 dated 08.08.2019 applicable on pending cases as well. Mr. Roy submits on the other hand is that the instant appeal needs more than threshold tax effect limit grievances in revenue’s three substantive grounds. He fails to dispute that the assessee’s tax effect computation confirms to Assessing Officer’s rectification order dated 11.12.2019. Be that as it may, we find no merit in the Revenue’s argument at this stage. It shall however be open for the department to take recourse to the appropriate remedy in case the 2 M/s Esteem Tradecom Pvt. Ltd. Assessing Officer find tax effect involved in the instant case is more than the above prescribed limit of Rs. 50 lacs.

This Revenue’s appeal is dismissed in above terms. Order pronounced in the Court on 12.08.2020