ACIT - 2(2)(1), MUMBAI vs. JAYEM PROPERTIES PVT. LTD., MUMBAI

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ITA 2854/MUM/2017Status: DisposedITAT Mumbai30 October 2018AY 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 monetary limit stipulated by CBDT Circular No. 3/2018 for filing appeals. The Revenue did not provide any material to show the appeal was covered by exceptions to the circular.

What were the facts?

The Revenue filed an appeal before the ITAT concerning AY 2012-13. The tax effect involved in the appeal was calculated to be Rs. 8,86,745/-.

What were the issues?

Whether the appeal filed by the Revenue is maintainable in light of the revised monetary limits for filing appeals as per CBDT Circular No. 3/2018.

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, J Bench, Mumbai

Before: Shri G.S. Pannu & Shri Ravish Sood

For Appellant: Shri Abdul Hakeem M
For Respondent: Shri Vidhi Doshi
Hearing: 30.08.2018Pronounced: 30.08.2018

The captioned appeal filed by the Revenue pertaining to A.Y. 2012-13 is directed against the order passed by the CIT(A)-5, Mumbai dated 01.01.2017 which in turn arises out of an order passed by the Assessing Officer under Section 143(3) of the Income Tax Act, 1961 (hereinafter "the Act") dated 30.03.2015.

2.

The learned A.R., in order to substantiate his claim that the tax effect involved in the present appeal was below the stipulated limit as contemplated in the CBDT, vide Circular No. 3/2018 dated 11.07.2018, had placed on record a computation of “tax effect”, perusal of which reveals that the tax effect involved was to the extent of `8,86,745/-. The aforesaid factual position has not been controverted by the learned D.R.

3.

The CBDT, vide Circular No. 3/2018 dated 11.07.2018, has revised the monetary limit for filing of appeals by the Department before the Tribunal with retrospective effect. The tax effect in dispute in the captioned appeal is stated to be below the monetary limit of `20 lakhs specified in the CBDT Circular dated 11.07.2018 (supra).

M/s. Jayem Properties P. Ltd. 4. In this background, the learned D.R. appearing for the Revenue was required to state his position; he has not referred to any material which would show that the captioned appeal is protected by any of the exceptions provided in para 10 of the CBDT circular (supra).

5.

Without going into the merit of the issue raised, the captioned appeal is deemed to be withdrawn/not pressed as it’s filing is not in consonance with the CBDT circular dated 11.07.2018 (supra). Before parting we may clarify that if on a later date, the Revenue finds that filing of the appeal is protected by the exceptions provided in para 10 of the CBDT circular (supra), it shall be at liberty to approach the Tribunal for recall of the order and reinstitution of the appeal for adjudication on merits. The Tribunal shall consider such application, if any, as per the extant law.

6.

In conclusion, by applying the CBDT circular dated 11.07.2018 (supra), the captioned appeal of the Revenue is dismissed as withdrawn/ not pressed.

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