INCOME TAX OFFICER 10(2)(3), MUMBAI vs. MATASHREE ENTERPRISE PRIVATE LIMITED, MUMBAI

ITA 1630/MUM/2018Status: DisposedITAT Mumbai10 August 2018AY 2008-093 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 held that the tax effect of the quantum additions was below the prescribed limit of Rs. 20 Lacs as per the CBDT circular. Therefore, the revenue's appeal was dismissed.

What were the facts?

The revenue's appeal contested certain relief granted to the assessee. The tax effect of the additions in dispute was below the monetary limit prescribed by CBDT Circular No. 03/2018.

What were the issues?

Whether the revenue's appeal should be dismissed based on the low tax effect as per CBDT Circular No. 03/2018.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY, JM & SHRI MANOJ KUMAR AGGARWAL, AM

आदेश / O R D E R

Per Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by revenue for Assessment Year [AY] 2008-09 contests the order of Ld. first appellate authority qua certain relief provided to the assessee. None has appeared for assessee. Therefore, left with no option, we proceed to dispose-off the same on the basis of

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