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