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Income Tax Appellate Tribunal, ‘D’ BENCH: CHENNAI
Before: SHRI N.R.S. GANESAN & SHRI RAMIT KOCHAR
आदेश / O R D E R
PER RAMIT KOCHAR, Accountant Member:
This appeal is filed by Revenue is disposed of because tax effect in this appeal is less than Rs.50 lacs as per CBDT Circular No.17/2019 (F.No. 279/Misc.142/2007-ITJ (Pt) ) dated 08th August, 2019 issued by Central Board of Direct Taxes, Department of & CO No. 14/CHNY/2019 Revenue, Ministry of Finance, Government of India, amending Para No.3 and 5 of the CBDT Circular No.3 of 2018 dated 11.07.2018 and its subsequent amendment dated 20.08.2018.
The Ld. DR at the outset submitted that tax effect involved in this appeal filed by Revenue is less than Rs.50 lacs and this appeal is covered by CBDT circular No.17/2019 dated 08.08.2019 being a low tax effect appeal filed by the Revenue. It is also explained by learned DR that this appeal filed by Revenue is also not hit by any of the exceptions carved out in aforesaid CBDT circular. The learned counsel for assessee stated before the Bench that this appeal of Revenue is low tax effect and hence is required to be dismissed as covered by aforesaid CBDT circular It is also stated by learned counsel for the assessee that the assessee has filed cross objections which has become infructuos in view of dismissal of Revenue’s appeal and is required to be dismissed.
The tax effect in this appeal filed by Revenue is undisputedly below Rs.50 lacs and thus keeping in view CBDT Circular No.17/2019 (F.No.279/Misc.142/2007-ITJ (Pt)) dated 08th August, 2019 issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, amending Para No.3 and 5 of the CBDT Circular No.3 of 2018 dated 1107.2018 and its subsequent amendment dated 20.08.2018, we are inclined to dismiss this appeal filed by Revenue due to low tax effect involved in this appeal which is below Rs.50 lacs. Similarly , CO filed by assessee has become infructuous and is required to be dismissed. While disposing of this appeal filed by Revenue due to low tax effect vide aforesaid CBDT Circular No.17/2019 dated 08.08.2019 and also CO filed by assessee, we clarify that we have not commented on the merits of the issue in this appeal and CO. However, at the same time we are granting liberty to Revenue that CO No. 14/CHNY/2019 if at any stage Revenue wants to agitate the matter/issue in this appeal in accordance with the clauses/exceptions as are contained in the afore-stated CBDT circular number 17/2019 dated 08.08.2018 read with CBDT circular No 3/2018 dated 11.07.2018 as modified on 20.08.2018, the Revenue is hereby granted liberty to file miscellaneous application praying for recall of this order and if that be so, the assessee shall also have liberty to revive its CO. We order accordingly.
In the result, this appeal filed by Revenue as well CO filed by assessee stand dismissed owing to low tax effect as indicated above. Order pronounced in the open court on 11.11.2019.