ACIT 12(2)(2), MUMBAI vs. GIRIRAJ CIVIL DEVELOPERS P.LTD, MUMBAI

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ITA 1183/MUM/2017Status: DisposedITAT Mumbai20 August 2019AY 2007-084 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 appeal, holding that the tax effect was below the prescribed monetary limit. Information from DGIT (Investigation) was not considered an external source for exceptions to the circular.

What were the facts?

The Revenue appealed against the deletion of an addition of Rs. 1,00,00,000/- by the CIT(A). The assessee argued that the tax effect was below the monetary threshold for appeals as per CBDT circulars.

What were the issues?

Whether the appeal filed by the Revenue is maintainable given the low tax effect below the monetary threshold prescribed by CBDT circulars, and whether information from DGIT (Investigation) falls under exceptions to these circulars.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “G” BENCH, MUMBAI

Before: HON’BLE SHRI C.N. PRASAD, JM & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

For Appellant: Ms. Morvi Chaturvedi-Ld.AR

आदेशकी�ितिलिपअ�ेिषत/Copy of the Order forwarded to : अपीलाथ�/ The Appellant 1. ��थ�/ The Respondent 2. आयकरआयु�(अपील) / The CIT(A) 3.

M/s. Giriraj Civil Developers Private Limited Assessment Year :2007-08

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