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

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ITA 1710/KOL/2019Status: DisposedITAT Kolkata12 August 2020AY 2016-172 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the tax effect was below the prescribed limit. It was open for the department to take recourse if the tax effect was found to be higher.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for AY 2016-17. The assessee's representative pointed out that the tax effect was below the threshold limit specified by CBDT circular No. 17/2019.

What were the issues?

Whether the Revenue's appeal should be entertained given the tax effect is below the CBDT prescribed limit.

Which sections of the Income-tax Act were involved?

Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A”, BENCH KOLKATA

Before: SHRI S.S.GODARA, JM & DR. A.L.SAINI, AM

For Appellant: Shri Dhrubajyoti Roy, JCIT
For Respondent: Shri Miraj D Shah, Advocate
Hearing: 09/07/2020Pronounced: 12/08/2020

आदेश / O R D E R

Per Shri S.S. Godara, JM:

1.

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.

2.

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.

3.

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

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