DY CIT 31(3), MUMBAI vs. THE JAWAHAR NAGAR CO OPERATIVE HOUSING SOCIETY LTD, MUMBAI

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ITA 3962/MUM/2018Status: DisposedITAT Mumbai19 August 2019AY 2014-153 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 prescribed by the CBDT.

What were the facts?

The Revenue filed an appeal before the ITAT. The tax effect involved in the appeal was found to be less than Rs. 50 lacs.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal before the ITAT based on the monetary limits set by 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
Hearing: 19.08.2019Pronounced: 19.08.2019

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)-42, Mumbai, dated 21.03.2018, 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 is found to be not maintainable.

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