Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, BANGALORE BENCHES “B”, BANGALORE
Before: Shri N.V.Vasudevan, VP & Shri B.R.Baskaran, AM
Per B.R.Baskaran, AM :
The appeal filed by the Revenue is directed against the order dated 31.03.2016 passed by learned CIT(A), Devengare and it relates to the assessment year 2008-2009. The Revenue is contesting the decision of the learned CIT(A) in granting relief in respect of addition relating to URD purchase, trade credit, cost of development and diesel expenditure.
At the time of hearing, the learned Departmental Representative submitted that the tax effect involved in the above said additions is less than Rs.20 lakhs.
We have heard the parties and perused the record. The CBDT, vide its Circular No.3/2018 dated 11.07.2018, has prescribed the monetary limit of Rs.20 lakhs for preferring
. Sri Chand Basha. appeal before the Tribunal by the Revenue. Accordingly, the tax authorities have been advised not to pursue the appeal, if the tax effect involved in the additions contested before the Tribunal by the revenue is less than Rs.20 lakhs. In the instant case, it is admitted that the tax effect involved on the issues being contested by the Revenue is less than Rs.20 lakhs. In view of the above said Circular, the Revenue is precluded from pursuing this appeal. Accordingly, we dismiss the appeal by the Revenue, in limine.
In the result, the appeal filed by the Revenue is dismissed.