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Income Tax Appellate Tribunal, KOLKATA ‘D’ BENCH, KOLKATA
Before: Shri P.M. Jagtap, Vice-(KZ) & Shri S.S. Viswanethra Ravi
Per Shri P.M. Jagtap, Vice-President (Kolkata Zone):- This appeal is preferred by the Revenue against the order passed by the ld. Commissioner of Income Tax (Appeals)-2, Kolkata dated 09.05.2018 on the following grounds:- (1) That on the facts and circumstances of the case, the ld. CIT(A) has erred in law in deleting the disallowance of Rs.5,18,572/- made by the AO u/s 14A read with Rule 8D of I.T. Rule of the I.T. Act, 1962 without considering CBDT’s circular No. 5 of 2014 dated 11.02.2014.
(2) That on the facts and circumstances of the case, the ld. CIT(A) has erred in holding that disallowance u/s 14A of the Act cannot be made if no exempted income is either received or receivable during the previous year.
Assessment Year: 2013-2014 M/s. Mittal Polypacks Pvt. Limited
As pointed out by the ld. Counsel for the assessee, at the outset, 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 grounds 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 pending appeals also, we 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 April 08, 2019.