DCIT CEN CIR 8(3), MUMBAI vs. SUN INVESTMENT P.LTD, MUMBAI

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ITA 5301/MUM/2018Status: DisposedITAT Mumbai10 December 2019AY 2014-153 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 ITAT noted that the CBDT's circular revised the monetary limit for filing appeals to the ITAT to Rs. 50 lacs. The Departmental Representative conceded that the appeal was covered by this circular.

What were the facts?

The Revenue filed an appeal before the ITAT against the order of the CIT(A) for AY 2014-15. The tax effect of the relief granted by the CIT(A) was below Rs. 50 lacs.

What were the issues?

Whether the Revenue's appeal is maintainable before the ITAT given the revised monetary limits prescribed by the CBDT circular.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “G”

Before: SHRI S. RIFAUR RAHMAN, AM & SHRI RAVISH SOOD, JM

Sun Investment Pvt. Ltd. DCIT Cen Cir – 8(3), बिधम/ Jindal Mansion, 5A Dr. G. 6th floor, Room No. 659, Deshmukh Marg, Aayakar Bhavan, M. K. Vs. Mumbai-400 026 Road, Mumbai-400 051 स्थायीलेखासं./जीआइआरसं./PAN No. AAACS0389M (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant : Shri V. Vinod Kumar, DR by प्रत्यथीकीओरसे/Respondentby : Shri Rakesh Joshi, AR सुनवाईकीतारीख/ : 28.11.2019 Date of Hearing घोषणाकीतारीख / : 10.12.2019 Date of Pronouncement आदेश / O R D E R

Per S. Rifaur Rahman, Accountant Member:

1.

The present Appeal has been filed by the revenue against the order of Ld. Commissioner of Income Tax (Appeals) - 50 in short referred as ‘Ld. CIT(A)’, Mumbai, dated 11.06.18 for Assessment Year (in short AY) 2014-15.

2.

At the outset, we notice that the tax effect of the relief granted by the Ld. Commissioner of Income Tax (Appeals) is below Rs. 50 lacs and as per Circular No.17 of 2019 dated 08.08.2019 issued by the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, Government of India, the CBDT has revised the monetary limit for filing appeals before the ITAT from the existing limit of Rs. 20 lacs to Rs. 50 lacs.

3.

The Ld. Departmental Representative (DR) fairly conceded that this appeal is covered by the aforesaid circular issued by the CBDT. The Ld. DR submitted that in case this appeal falls in the exceptional case, the appeal may be allowed to recall.

4.

We have gone through the order of the Ld. Commissioner of Income Tax (Appeals) and the grounds of appeals. We find that the tax effect in the above referred appeal is less than Rs. 50 lacs. Accordingly, we dismiss the aforesaid appeal filed by the Revenue as not maintainable/withdrawn.

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