ITO 12(1)(4), MUMBAI vs. CRIMSON INTERACTIVE PVT. LTD., MUMBAI

The captioned appeal filed by the Revenue pertaining to assessment year 2008-09 is directed against the order passed by CIT(A)-20, Mumbai, dated 27.05.2016, which in turn arises from the order passed by the Assessing Officer under section 143(3) r.w.s 147 of the Income Tax Act, 1961 (in short ‘the Act’), dated 13.03.2015.

At the outset, the ld. Authorized Representative (for short ‘A.R’) for the assessee submitted that the tax effect involved in this appeal is less than Rs.20.00 lacs. In support of his aforesaid contention the Ld. A.R had placed on record a calculation of the ‘tax liability’ involved in the appeal. The ld. Departmental Representative (for short ‘D.R’) did not controvert the said factual position.

We find that the CBDT vide its Circular No.03/2018, dated 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 admittedly 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.

The ld. A.R submitted that the Cross Objection filed by the assessee was not being pressed. In the backdrop of the aforesaid concession of the ld. A.R the Cross Objection filed by the assessee is dismissed as not pressed.