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Income Tax Appellate Tribunal, MUMBAI BENCHES, ‘J’ MUMBAI
Before: Shri Joginder Singh, & Shri Manoj Kumar Aggarwal
23/08/2018 सुनवाई क� तार�ख / Date of Hearing: 23/08/2018 आदेश क� तार�ख /Date of Order:
M/s Skylark Travels Pvt. Ltd. आदेश / O R D E R Per Joginder Singh(Judicial Member) The Revenue is aggrieved by the impugned order dated 28/12/2016 of the Ld. First Appellate Authority, Mumbai, deleting the additions under section 41(1) of the Income Tax Act, 1961 (hereinafter the Act), amounting to Rs.59,23,786/- on account of unproved sundry creditors relying upon the decision from Hon'ble Bombay High Court in the case of Solid Containers Pvt. Ltd. 308 ITR 417 (Bom.).
During hearing of this appeal, at the outset, Shri B.V. Jhaveri, ld. counsel for the assessee, pointed out that the tax effect in the present appeal, filed by the Revenue, is below prescribed monetary limit of Rs.20 lakh. The ld. DR, Shri A.
Mohan, did not controvert the factual matrix, though he defended the addition made by the Ld. Assessing Officer.
2.1. We have considered the rival submissions and perused the material available on record. In view of the above, it is noted that the tax effect in the present appeal is below prescribed limit of Rs.20 lakhs, vide instruction/Circular No.3 of 2018, issued by CBDT (F No.279/Misc./142/ 2007-ITJ(PT) dated 11/07/2018. As per the circular, wherein, the M/s Skylark Travels Pvt. Ltd. Department was advised/directed by the Board not to file appeal in the cases where the tax effect does not exceed the following monetary limit:-
Sl. Appeals in Income –tax matters Monetary Limit (in Rs.) No. 1. Before ITAT 20,00,000/- 2. U/s 260 A before Hon’ble High 50,00,000/- Court 3. Before Hon’ble Supreme Court 1,00,00,000/-
It was explained that while giving effect to the order of the Ld. Commissioner of Income Tax (Appeal) dated 28/12/2016, the total income was revised and thus the tax effect was explained to be less than prescribed monetary limit. In view of the above instruction, since, the tax effect is less than Rs.20,00,000/- (not controverted by Ld. DR also), consequently, the appeal of the Revenue is not maintainable, therefore, dismissed.
Finally, the appeal of the Revenue is dismissed.
This Order was pronounced in the open court in the presence of Ld. representatives from both sides at the conclusion of hearing on 23/08/2018.