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Income Tax Appellate Tribunal, MUMBAI BENCH “J”, MUMBAI
Before: SHRI G.S.PANNU & SHRI RAVISH SOOD
ORDER PER G.S.PANNU,A.M:
The captioned appeal filed by the Revenue pertaining to assessment year 2011-12 is directed against an order passed by CIT(A)- 58, Mumbai dated 31/01/2017, which in turn arises out of an order passed by the Assessing Officer under section 143(3) of the Income Tax Act, 1961 (in short ‘the Act’) dated 25/03/2014.
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. At the time of hearing the Ld. Departmental Representative has referred to a communication by ITO, Ward 3(3)(3), Mumbai dated 20/08/2018 seeking withdrawal of the appeal as the tax effect in the impugned appeal is below the limit specified in CBDT Circular dated 11/07/2018(supra).