DCIT-5(3)(2), MUMBAI vs. M/S.TAKTAWALA GLASS INDUSTRIES PRIVATE LIMITED, MUMBAI

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ITA 4051/MUM/2018Status: DisposedITAT Mumbai22 August 2019AY 2014-152 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 held that the appeal filed by the Revenue was not maintainable as the tax effect was below the revised monetary limit for filing appeals as per CBDT Circular No. 17/2019.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A). The tax effect involved in the appeal was less than Rs. 50 lacs.

What were the issues?

Maintainability of the appeal due to insufficient tax effect as per CBDT circulars.

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, “E” Bench, Mumbai

Before: Shri Shamim Yahya & Shri Ravish Sood

For Appellant: Shri Rajeev R. Gubgotra, D.R
For Respondent: Shri R.N.Vasani &, Shri V.H. Vasani, A.Rs
Hearing: 22.08.2019Pronounced: 22.08.2019

O R D E R

PER RAVISH SOOD, JM

1.

The captioned appeal filed by the Revenue is directed against the order passed by the CIT(A)-10, Mumbai, dated 23.03.2018, which in turn arises from the assessment order passed by the A.O under Sec.143(3) of the Income Tax Act, 1961 (for short ‘Act’), dated 16.11.2016.

2.

We find that the ‘tax effect’ involved in the present appeal filed by the revenue is less than Rs.50 lacs. On the basis of the aforesaid fact, the appeal filed by the revenue as per the monetary limits revised by the CBDT vide its Circular No. 17/2019, dated 08.08.2019 for filing of appeals before the Tribunal, is found to be not maintainable.

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