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Order under section 254(1) of Income Tax Act PER PAWAN SINGH, JUDICIAL MEMBER:
1. 1. This appeal by revenue under section 253 of Income Tax Act is directed against the order of ld. Commissioner of Income Tax (Appeals)-57, [CIT(A)], Mumbai dated 04.12.2017 for Assessment Year 2015-16.
2. At the outset of hearing, the ld. Authorized representative (AR) of the assessee submitted that the tax effect involved in the present appeals is less than the monetary limit prescribed by CBDT in its Circular No.17/2019 dated 8th August 2019, therefore, the appeal is liable to be dismissed.
3. On the other hand, the ld. Departmental Representative (DR) for the revenue after going through the grounds of appeal fairly submits that though the tax effect involved in the present appeals is less than the monetary limit of tax effect fixed by CBDT in a recent circular, however, the revenue may be Mum 2018-M/s Reliance Corporate IT Park Ltd. given liberty to get the appeal revived in case at the later stage it is discovered that the tax effect is more than the monetary limit of Rs. 50 lakhs.
Considering the submissions of both the ld. representatives of the parties, we find that tax effect involved in the present appeal is less than the monetary limit of Rs. 50,00,000/- fixed by CBDT Circular No. 17/2019 dated 8th August 2019, therefore, the appeal of revenue is dismissed being not maintainable. However, the revenue is granted liberty to get the appeal revive in case, at later stage it is discovered the tax effect of more than Rs. 50 lakhs.
In the result, appeal of the revenue is dismissed.