INCOME TAX OFFICER 21(2)(3), MUMBAI vs. MURUDE SAHAKARI PATSANSTHA MARYADIT, MUMBAI

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ITA 938/MUM/2018Status: DisposedITAT Mumbai11 September 2018AY 2014-153 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 agreed with the assessee that the tax effect was below the threshold limit specified in CBDT Circular No. 3/2018. Therefore, the appeals filed by the Revenue were not pressed.

What were the facts?

The Revenue filed appeals against the Income Tax Officer's orders for assessment years 2013-14 and 2014-15. The assessee argued that the tax effect of the additions was below the CBDT's prescribed limit for filing appeals.

What were the issues?

Whether the appeals filed by the Revenue should be dismissed due to low tax effect, as per the CBDT circular.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY

For Respondent: Shri S.K. Bepari

Aforesaid appeals have been filed by the Revenue challenging a common order dated 10th November 2017, passed by the learned

2 Murude Sahakari Patsanstha Maryadit Commissioner (Appeals)–33, Mumbai, for the assessment years 2013– 14 and 2014–15.

2.

At the outset, the learned Authorised Representative submitted that the tax effect on the quantum of additions contested by the Revenue in each of the assessment years is less than the prescribed limit of ` 20 lakh fixed for filing of appeal before the Income Tax Appellate Tribunal, hence, is covered by the recently issued low tax effect Circular no.3/2018, dated 11th July 2018, by the Central Board of Direct Taxes (CBDT).

3.

The learned Departmental Representative agreed with the aforesaid submissions of the assessee.

4.

I have gone through the CBDT Circular referred to above and find that the tax effect on the quantum of additions disputed by the Revenue in each of the assessment years is below the threshold limit of ` 20 lakh, therefore, as per the CBDT Circular referred to above, the appeal filed by the Revenue has to be withdrawn / not pressed, since, the aforesaid Circular by CBDT applies even to the pending appeals. In view of the aforesaid, we dismiss the present appeals filed by the Revenue.

Murude Sahakari Patsanstha Maryadit

5.

In the result, both the appeals are dismissed. Order pronounced in the open Court on 11.09.2018

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