DEPUTY COMMISSIONER OF INCOME-TAX vs. M/S. MEGA VENTURES,, PUNE

The CBDT vide Circular No.3/2018, dated 11.07.2018 has revised the monetary limits 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 Rs. 20.00 lakhs specified in the CBDT Circular dated 11.07.2018 (supra).

In this background, the learned Departmental Representative 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 Circular (supra).

Without going into the merit of the issues raised in the captioned appeal, this appeal is deemed to be withdrawn/not pressed as its filing is in contravention of the CBDT Circular dated 11.07.2018 (supra). Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribunal for re-institution of appeal, if the requisite material is brought to show that the appeal is protected by the exceptions prescribed in para 10 of the Circular (supra).

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conclusion, by applying the CBDT Circular dated 11.07.2018 (supra), the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.

In the result, the appeal of Revenue is dismissed.

The assessee has filed an application dated 30.08.2018 seeking withdrawal of its appeal. The Ld. DR for Revenue has raised no objection on assessee’s withdrawing the present appeal. In view of application made by assessee, the appeal is dismissed as having been 'withdrawn'.

In the result, both the appeals of the Revenue and assessee are dismissed. Order pronounced in the open court on this 30th day of August, 2018.