ITO, WARD - 5(4), KOLKATA vs. M/S. VASUNDHARA HOLDINGS LTD., KOLKATA

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ITA 2700/KOL/2018Status: DisposedITAT Kolkata06 May 2019AY 2013-142 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 held that the appeal filed by the Revenue was not maintainable due to the low tax effect. Consequently, the appeal was dismissed.

What were the facts?

The Revenue appealed the deletion of a disallowance made under Section 14A of the Income Tax Act. The tax effect involved in the appeal was below the monetary limit set by the CBDT for filing appeals.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal before the Tribunal given the low tax effect, as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘B(SMC

Before: Shri P.M. Jagtap, Vice-(KZ)

Per Shri P.M. Jagtap, Vice-President (Kolkata Zone):- This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-2, Kolkata dated 12.10.2018 and the solitary issue involved therein relates to the deletion by the ld. CIT(Appeals) of the disallowance of Rs.2,55,554/- made by the Assessing Officer under section 14A of the Income Tax Act, 1961.

2.

Although at the time of hearing, adjournment has been sought on behalf of the assessee, it is observed that the tax effect involved in this appeal of the Revenue is less than the monetary limit of Rs.20,00,000/- fixed by the CBDT vide Circular No. 3/2018 dated 11.07.2018 for filing the appeal before the Tribunal and this position clearly evident from the ground raised by the Revenue in this appeal is not disputed by the ld. D.R. Since the said Circular issued by the CBDT is made applicable to all the (Assessment Year: 2013-2014) M/s. Vasundhara Holdings Limited pending appeals also, I treat this appeal of the Revenue as not maintainable on account of low tax effect and dismiss the same.

3.

In the result, the appeal of the Revenue is dismissed. Order pronounced in the open Court on May 06, 2019.

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