INCOME TAX OFFICER 9(1)(1), MUMBAI vs. M/S.ACE ELECTROMAGNETICS PRIVATE LIMITED, MUMBAI

ITA 1674/MUM/2018Status: DisposedITAT Mumbai10 August 2018AY 2011-123 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 appeal was covered by CBDT Circular No. 03/2018, which sets a monetary limit for filing appeals. Therefore, the revenue's appeal was dismissed.

What were the facts?

The revenue filed an appeal against the relief granted to the assessee by the first appellate authority for AY 2011-12. The tax effect of the additions contested by the revenue was below the prescribed limit of Rs. 20 Lacs.

What were the issues?

Whether the revenue's appeal is maintainable given the low tax effect, as per the CBDT circular on monetary limits for appeals.

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] 2011-12 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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