JT.CIT-15(3)(1)(OSD), MUMBAI vs. M/S.VERITAS INDUSTRIES PRIVATE LIMITED, MUMBAI

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ITA 1194/MUM/2018Status: DisposedITAT Mumbai10 August 2018AY 2013-144 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 dismissed the revenue's appeals in limine as the tax effect was below the threshold specified in CBDT Circular No. 3/2018. The revenue was precluded from pursuing appeals with a tax effect of Rs. 20.00 lakhs or less, unless an exception applied.

What were the facts?

The revenue filed appeals challenging the CIT(A)'s orders granting relief to assessees. The quantum of dispute in all appeals was less than Rs. 20.00 lakhs.

What were the issues?

Whether the revenue's appeals should be dismissed based on the tax effect threshold stipulated in CBDT Circular No. 3/2018.

AI-generated summary — verify with the full judgment below

Heard together (2 matters)

I.T.A. Nos. 857/Mum/2018
I.T.A. No.1194/Mum/2018

Read from the judgment's own cause title. This page is filed under one of them.

The CBDT has issued a new Circular No.3/2018 dated 11.07.2018 in supersession of its earlier Circular No.21/2015 dated 10.12.2015. According to the Circular No.3/2018, the revenue is precluded from pursuing its appeal if the tax effect is Rs.20.00 lakhs or less. Apparently the issue in dispute does not fall in any of the exceptions provided in paragraph 10 of the Circular No.3/2018, referred above. The Ld D.R, however, sought time to get a certificate from the PCIT/CIT concerned that the grounds urged in this appeal does not fall under any of the exceptions specified in the said circular. However, from the available material, he could not point out that the issue contested in this appeal fall in any of the exceptions.

3.

We have noticed that the tax effect involved in this appeal is less than Rs.20.00 lakhs and the issue contested herein also apparently does not fall in any of the exceptions specified in the Circular. Accordingly we dismiss the appeal of the revenue in limine. However, the revenue is given liberty to move miscellaneous application seeking recall of this order, if it is found that the issue contested in this appeal falls in any of the exception provided in paragraph 10 of the Circular.

4.

In the result, all the appeals of the revenue are dismissed. Order pronounced in the open court on 10.08.2018. Sd/- Sd/- (AMARJIT SINGH) (B. R. BASKARAN) न्यधनिक सदस्य/JUDICIAL MEMBER लेखध सदस्य / ACCOUNTANT MEMBER मुंबई Mumbai; दिनांक Dated : 10.08.2018. Vijay

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