ACIT vs The Hindustan Co-Op. Bank Ltd… | ITAT Mumbai 2018

Income Tax Appellate Tribunal, MUMBAI BENCH “G”, MUMBAI

Before: SHRI B.R.BASKARAN & SHRI RAVISH SOOD

For Appellant: Shri Nishant Somaiya, A.R

For Respondent: Shri Amar Gahlot, D.R

Hearing: 23/08/2018Pronounced: 23/08/2018

PER RAVISH SOOD, J.M: The captioned appeal filed by the Revenue pertaining to assessment year 2010-11 is directed against the order passed by CIT(A)-28, Mumbai, dated 22.02.2016, which in turn arises from the order passed by the Assessing Officer under section 271(1)(c) of the Income Tax Act, 1961 (in short „the Act‟), dated 30.09.2013. 2. At the outset, it is noticed that the tax effect involved in this appeal is less than Rs.20.00 lacs. The CBDT vide its Circular No.03/2018, dated P a g e | ACIT-17(3) Vs. The Hindustan Co.op Bank Ltd. 11/07/2018 has revised the monetary limits for filing of appeals by the Department before the Tribunal, retrospectively. Since the tax effect in dispute in the captioned appeal is stated to be below the monetary limit of Rs.20.00 lacs specified in the CBDT Circular No. 03/2018, dated 11/07/2018, therefore, the same is dismissed as not maintainable.

In the result, appeal of the Revenue is dismissed.

ACIT - 17(3), MUMBAI vs. THE HINDUSTAN CO-OP. BANK LTD., MUMBAI