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Income Tax Appellate Tribunal, MUMBAI BENCH “D”, MUMBAI
Before: SHRI C.N. PRASAD, HON’BLE & SHRI N.K. PRADHAN, HON’BLEShri Mohd. Faruk Haji Ebrahim Memon
O R D E R PER C.N. PRASAD (JM) This appeal is filed by the Revenue against the order of the Learned Commissioner of Income Tax (Appeals)-33, Mumbai [hereinafter in short “Ld.CIT(A)”] in Appeal No. CIT(A)-33/Rg.21/133/2015-16 dated 21.04.2015 for the A.Y. 2012-13.
The Revenue has raised the following grounds in its appeal: - 1. "On the facts and circumstances of the case and in law, the Ld. CIT(A) has erred that assessee is a person and received a share in immovable property without consideration during the previous year. However, the CIT(A) conveniently ruled that the case of assessee was not covered under section 56(2)(vii)(b).
2. "On the facts and circumstances to the case and in law, the Ld.CIT(A) ignoring the fact that during the course of assessment
(A.Y: 2012-13) Shri Mohd. Faruk Haji Ebrahim Memon proceedings the assessee failed to prove that the persons paid amount on behalf of the assessee are relative of the assessee."
3. "The appellant prays that the order of Ld.CIT(A) on the above grounds be set aside and that of the Assessing Officer be restored."
At the time of hearing, Authorized Representative of the assessee submitted that tax effect on the issue in the present appeal is below ₹.50 Lacs and in view of the CBDT Circular No. 17/2019 dated 08.08.2019 in F.No.279/Misc.142/2007-ITJ (Pt), the appeal of the Revenue is not maintainable.
Ld. Departmental Representative also agreed with the above submission of the Authorized Representative of the assessee and filled letter dated 25.09.2019 written by ITO – 21(2)(3) to the Addl. CIT, Sr. AR, ITAT clarifying that the tax effect is Rs. 38,63,800/- and the issue does not fall under the exceptions as per Boards Circular.
We have heard the submissions and perused the grounds of appeal in this appeal. In view of the above submissions of the Revenue, appeal is not maintainable on account of low tax effect. In view of the CBDT Circular No. 17/2019 dated 08.08.2019, this appeal is dismissed.
In the result, appeal of the Revenue is dismissed.