ITO-12(3)(3), MUMBAI vs. LUCAS MEYER INDUSTRIES PRIVATE LIMITED, MUMBAI

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ITA 4250/MUM/2017Status: DisposedITAT Mumbai03 October 2019AY 2007-083 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 Tribunal dismissed the Revenue's appeal as not maintainable. This decision was based on a CBDT circular directing withdrawal of appeals where the tax effect is below a certain threshold.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A). The appeal was for Assessment Year 2007-08. The assessee is M/s. Lucas Meyer Industries Pvt. Ltd.

What were the issues?

Maintainability of the Revenue's appeal based on the tax effect and a binding CBDT circular.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A”, BENCH

Before: SHRI MAHAVIR SINGH, JM & SHRI M.BALAGANESH, AM

For Appellant: Shri Bhupendra Shah
For Respondent: Shri S. Michael Jerald, Shri Bhupendra Shah
Hearing: 03/10/2019Pronounced: 03/10/2019

आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in A.Y.2007-08 arises out of the order by the ld. Commissioner of Income Tax (Appeals)-20, Mumbai in appeal No.CIT(A)-20/ITO-12(3)(3)/IT-250/2015-16 dated 02/03/2017 (ld. CIT(A) in short) against the order of assessment passed u/s. 147 r.w.s. 143(3) of the Income Tax Act, 1961 (hereinafter referred

1.

M/s. Lucas Meyer Industries Pvt. Ltd., to as Act) dated 20/03/2015 by the Income Tax Officer-12(3)(3), Mumbai (hereinafter referred to as ld. AO).

2.

Both the parties before us mutually agreed that this revenue appeal is to be dismissed as not maintainable in view of the recent Circular issued by the CBDT dated 08/08/2019 wherein the revenue has been directed to withdraw the appeal preferred by it before the Tribunal if the tax effect on the disputed issues is less than or equal to Rs.50,00,000/-. It is well settled that this Circular is binding on the revenue authorities.

3.

Respectfully following the said Circular, the appeal filed by the revenue is dismissed as not maintainable.

4.

Incase, if the revenue is able to provide evidence that the case falls under any of the exceptions provided in the circular issued by the CBDT, then the revenue may prefer miscellaneous application for recalling of this order, if they so desire, in which circumstance this order shall be recalled by this Tribunal.

M/s. Lucas Meyer Industries Pvt. Ltd.,

5.

In the result, appeal filed by the revenue is dismissed as not maintainable.

Order pronounced in the open court on this 03/10/2019

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