INCOME TAX OFFICER 10(1)(2), MUMBAI vs. M/S.INFINITY CONSTRUCTION PRIVATE LIMITED, MUMBAI

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ITA 7035/MUM/2018Status: DisposedITAT Mumbai10 April 2019AY 2014-152 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 dismissed the revenue's appeal as not maintainable based on the AO's withdrawal request. Consequently, the assessee's cross-objection was also dismissed as infructuous.

What were the facts?

The revenue filed an appeal before the ITAT. Subsequently, the Assessing Officer (AO) requested withdrawal of the appeal. The AO cited that the tax effect was below the prescribed monetary limit and that no disallowance under Section 14A can be made if there is no exempt income.

What were the issues?

Whether an appeal can be withdrawn by the revenue due to low tax effect and a favorable Supreme Court judgment on Section 14A disallowances.

Which sections of the Income-tax Act were involved?

Section 14A,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” Bench, Mumbai

Before: Shri Ravish Sood & Shri N.K. Pradhan

For Appellant: Shri Abi Rama Kartikiyen, D.R
Hearing: 04.04.2019Pronounced: 10.04.2019

Heard together (2 matters)

ITA No.7035/Mum/2018
C.O No. 117/Mum/2019

Read from the judgment's own cause title. This page is filed under one of them.

O R D E R

Per Ravish Sood, JM

1.

The captioned appeal filed by the revenue is directed against the order passed by CIT(A)-17, Mumbai, dated 10.09.2018, which in turn arises from the order passed by the A.O under Sec.143(3) of the Income Tax Act, 1961 (for short ‘the Act’), dated 30.09.2016. Apart there from, the assessee is also before us as a cross objector.

2.

The ITO-10(1)(3), Mumbai has filed a letter dated 14.02.2018 requesting for withdrawal of the captioned appeal. It is stated by him that the appeal is sought to be withdrawn for two reasons viz. (i) that the tax effect involved in the appeal of the revenue is below the prescribed monetary limit specified in the CBDT Circular No. 03/2018, dated 11.07.2018; and (ii)

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