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Income Tax Appellate Tribunal, MUMBAI BENCH “E”, MUMBAI
Before: SHRI MAHAVIR SINGH & SHRI RAJESH KUMAR
Per Rajesh Kumar, Accountant Member:
The present appeal has been preferred by the Revenue against the order dated 23.01.2017 of the Commissioner of Income Tax (Appeals) [hereinafter referred to as the CIT(A)] relevant to assessment year 2007-08.
At the outset, the Ld. A.R. has submitted that tax effect involved in this appeal is less than Rs.20 lacs and the CBDT Circular No.3/2018 (F.No.279/MISC.142/2007-ITJ (PT).] dated 11.07.2018 is applicable to this appeal, hence, this appeal be dismissed in terms of Circular No.3/2018 (F.No.279/MISC.142/2007-ITJ (PT).] dated 11.07.2018.
After hearing both the parties and perusing the material on record, we find that the tax effect in this appeal does not exceed
2 M/s. EKTA Gems Rs.20 lakhs and therefore the appeal has to be dismissed in terms of Circular No.3/2018 (F.No.279/MISC.142/2007-ITJ (PT).] dated 11.07.2018. We, therefore, following the circular issued by the CBDT, dismiss the appeal filed by the Revenue.
Order pronounced in the open court on 26.09.2018.