ACIT 3(2)(1), MUMBAI vs. INDIAN EXPRESS NEWS PAPER ( MUMBAI) LTD, MUMBAI

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ITA 807/MUM/2017Status: DisposedITAT Mumbai20 August 2019AY 2009-103 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 tax effect was below the monetary limit specified by CBDT Circular No. 17/2019. Therefore, the appeal was dismissed as not maintainable, with liberty to revive if an exception clause of CBDT Circular No. 3/2018 applied.

What were the facts?

The Revenue appealed an order that quashed a reassessment order, which had disallowed a bad-debt claim. The assessee argued that the tax effect was below the monetary limit set by CBDT Circular No. 17/2019, making the appeal not maintainable.

What were the issues?

Whether the appeal is maintainable based on the tax effect and CBDT circulars, and whether the reassessment was a mere change of opinion.

Which sections of the Income-tax Act were involved?

Section 253,Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Order

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