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Income Tax Appellate Tribunal, MUMBAI BENCHES “J”, MUMBAI
Before: SHRI RAJESH KUMAR (AM) & SHRI RAM LAL NEGI (JM)
O R D E R
PER RAM LAL NEGI, JM
This appeal has been filed by the revenue against the order dated 22.12.2010 passed by the Commissioner of Income Tax (Appeals)-15 (for short ‘the CIT(A), Mumbai, for the assessment year 2003-04, whereby the Ld. CIT(A) has allowed the appeal filed by the assessee against the penalty order passed u/s 271 (1)(c) of the Income Tax Act, 1961 (for short the ‘Act’).
Aggrieved by the order of Ld. CIT (Appeals), the revenue has preferred this appeal before the Tribunal on the following effective grounds:-
1. “Whether on the facts and in the circumstances of the case and in law, the CIT (A) erred in directing to delete penalty u/s 271 (1) (c) of Rs. 15,51,027/-. Assessment Year: 2003-04 1.1 The CIT (A) has further erred in overlooking the fact that the claim of Rs. 21,59,558/-.
At the outset, the Ld. counsel for the respondent/assessee pointed out that the tax effect of the relief granted by the Ld. Commissioner of Income Tax (Appeals) is below Rs. 50 lacs and as per Circular No. 17 of 2019 dated 08.08.2019 issued by the Central Board of Direct Taxes (CBDT), Department of Revenue, Ministry of Finance, Government of India, the CBDT has revised the monetary limit for filing appeals before the ITAT from the existing limit of Rs. 20 lacs to Rs. 50 lacs. In the light of the aforesaid facts, the Ld. counsel submitted that this appeal is not maintainable and liable to be dismissed.
The Ld. Departmental Representative (DR) fairly conceded that this appeal is not maintainable in light of the aforesaid circular issued by the CBDT. The Ld. DR also did not point out that this appeal falls in any of the exceptions carved out in the above said circular.