ACIT, CIRCLE - 11(2), KOLKATA vs. M/S. MCPI PVT. LTD., KOLKATA

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ITA 2018/KOL/2018Status: DisposedITAT Kolkata09 January 2020AY 2012-132 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 noted that the tax effect was below the revised monetary limit of Rs. 50,00,000/- set by CBDT Circular No. 17/2019. The Tribunal treated the appeal as withdrawn/not pressed on account of low tax effect.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A) for AY 2012-13. The assessee contended that the tax effect was below the monetary limit prescribed by CBDT for filing appeals.

What were the issues?

Whether the Revenue's appeal should be dismissed due to low tax effect below the CBDT's prescribed monetary limit.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘A’ BENCH, KOLKATA

Before: Shri P.M. Jagtap, Vice- & Shri Satbeer Singh Godara

Per Shri P,M. Jagtap, Vice-President:

1.

This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-4, Kolkata dated 7th June, 2018 passed for the assessment year 2012-13.

2.

At the time of hearing before the Tribunal, the ld. Counsel for the assessee has contended that the tax effect involved in this appeal of the Revenue is less than the monetary limit of Rs.50,00,000/- fixed by the C.B.D.T. for filing the appeal by the Revenue before the Tribunal and this position is not disputed even by the ld. D.R. In the Circular No. 17/2019 Assessment Year: 2012-2013 M/s. MCPI Pvt. Limited dated 8th August, 2019 issued by the C.B.D.T., the monetary limit for filing the appeal by Revenue before the Tribunal is revised to Rs.50,00,000/-. As further clarified in the said Circular, the monetary limit so revised is applicable even to the pending appeals and the same are directed to be withdrawn or not pressed. We accordingly treat this appeal as withdrawn/not pressed on account of low tax effect in view of the CBDT Circular No.17/2019 dated 8th August, 2019 and dismiss the same.

3.

In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open Court on January 09, 2020.

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