Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, “B” BENCH, AHMEDABAD
Before: SHRI PRAMOD M. JAGTAP
आदेश/O R D E R
PER PRAMOD M. JAGTAP, VICE PRESIDENT:
The appeal filed by the Revenue for A.Y. 2013-14, arise from order of the CIT(A)-1, Ahmedabad dated 12.09.2019, in proceedings under Section 143(3) of the Income Tax Act, 1961; in short “the Act”.
The ground of appeal raised by the Revenue reads as under:-
“1. The CIT(A) has erred in law and in facts in directing the AO to allow foreign tax credit of Rs. 1,18,39,927/- as against Rs. 72,44,216/- allowed by the AO. 2. The CIT(A) has failed to note that the assessee has submitted before AO that profits from Bangladesh operations was Rs. 3,73,31,196/- whereas it was changed as Rs. 12,97,90,583/- before the [DCIT vs. M/s. Trenchless Engineering Pvt. Ltd.] A.Y. 2013-14 2 CIT(A) and that the AO has adopted the most reasonable and logical method of apportioning the respective income relative to the turnover.
2. It is, therefore, prayed that the order of ld. CIT(A) may be set aside and that of the Assessing Officer be restored.”
At the time of hearing, the Ld. D.R. fairly admitted that this appeal filed by the Revenue is hit by CBDT Circular No.17 of 2019 dated 08/08/2019 revising the previous thresholds pertaining to tax effects. As per aforesaid Circular, all pending appeals filed by Revenue are liable to be dismissed as a measure for reducing litigation where the tax effect does not exceed the prescribed monetary limit which is now revised at Rs.50 Lakhs. In the instant case, the tax effect on the disputed issues raised by the Revenue is not exceeding Rs.50 lakhs and therefore appeal of the Revenue is required to be dismissed in limine. Accordingly, this appeal of the Revenue is dismissed as not maintainable. However, it will be open to the Revenue to seek restoration of its appeal on showing inapplicability of the aforesaid CBDT Circular in any manner.
In the result, the appeal of the Revenue is dismissed.
This Order pronounced in Open Court on 23/03/2022
Sd/- Sd/- (Ms. MADHUMITA ROY) (PRAMOD M. JAGTAP) VICE PRESIDENT JUDICIAL MEMBER Ahmedabad: Dated 23/03/2022 TRUE COPY TANMAY, Sr. PS आदेश क� ��त�ल�प अ�े�षत / Copy of Order Forwarded to:- 1. राज�व / Revenue 2. आवेदक / Assessee 3. संबं�धत आयकर आयु�त / Concerned CIT 4.आयकर आयु�त- अपील / CIT (A) 5. �वभागीय ��त�न�ध,आयकर अपील�य अ�धकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड� फाइल / Guard file. By order/आदेश से,
उप/सहायक पंजीकार आयकर अपील�य अ�धकरण,अहमदाबाद।