ACIT 4(2)(1), MUMBAI vs. PHILIP CAPITAL (INDIA) P.LTD, MUMBAI

PDF · subscribers
ITA 4519/MUM/2016Status: DisposedITAT Mumbai29 March 2019AY 2010-113 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 monetary limit for filing appeals as per CBDT Circular No. 03/2018. Therefore, the appeal was dismissed as not maintainable.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A) for AY 2010-11. The tax effect involved in the appeal was less than Rs. 20.00 lacs.

What were the issues?

The primary issue was the maintainability of the appeal due to the tax effect being below the prescribed monetary limit for appeals to the Tribunal.

Which sections of the Income-tax Act were involved?

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
For Respondent: Shri Nishant Thakkar, A.R
Hearing: 26.03.2019Pronounced: 29.03.2019

O R D E R

Per Ravish Sood, JM

1.

The captioned appeal filed by the Revenue pertaining to assessment year 2010-11 is directed against the order passed by CIT(A)-9, Mumbai, dated 21.03.2016, which in turn arises from the order passed by the Assessing Officer under Sec.143(3) of the Income Tax Act, 1961 (for short ‘the Act’), dated 10.03.2014.

2.

On a perusal of the record, it stands revealed that the tax effect involved in this appeal is less than Rs.20.00 lacs. The ld. Departmental Representative (for short ‘D.R’) on being confronted admitted the said factual position.

3.

We find that the CBDT vide its Circular No.03/2018, dated 11/07/2018 has revised the monetary limits for filing of appeals by the Department before the Tribunal, retrospectively. Since the tax effect in P a g e | The DCIT-4(2)(1) Vs. M/s Philip Capital(India) Pvt. Ltd. dispute in the captioned appeal is admittedly below the monetary limit of Rs.20.00 lacs specified in the CBDT Circular No. 03/2018, dated 11/07/2018, therefore, the same is dismissed as not maintainable.

Recent GST High Court judgments

Search GST case law →