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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. The captioned appeal by revenue for Assessment Year [AY] 2011- 12 contest the order of Ld. first appellate authority qua deletion of penalty u/s 271(1)(C) for Rs.16.18 Lacs. None has appeared for assessee. Therefore, left with no option, we proceed to dispose-off the ITA.No.1700/Mum/2018 Navin G.Hotkar Assessment Year-2011-12 same on the basis of material available on record and after hearing Ld. Departmental Representative [DR], Shri Rajeev K.Gubgotra.
At the outset, it has been noticed that the quantum of penalty under dispute as agitated by revenue is less than prescribed limit of Rs.20 Lacs and the same is covered by recently issued low tax effect Circular No.03/2018 dated 11/07/2018 issued by Central Board of Direct Taxes [CBDT]. The Ld. DR, Shri.Rajiv K. Gubgotra, has controverted the same by submitting that necessary instructions / certificate, in this regard, would be required from higher authorities.
We have gone through the circular and find that the quantum of penalty under dispute is below prescribed limit of Rs.20 Lacs and the assessee stood benefitted by the above circular issued by CBDT wherein the minimum monetary limit for filing the appeals before various appellate authorities have been fixed as under:- S. No. Appeals/ SLPs in Income-tax Monetary Limit (Rs.) matters 1 Before Appellate Tribunal 20.00,000 2 Before High Court 50.00,000 3 Before Supreme Court 1,00.00,000 The aforesaid limits, as per para 13 of the circular applies to pending appeals also. In view of the admitted position, we dismiss the revenue’s appeal.
So far as the contentions raised by Ld. DR is concerned, we find that aforesaid circular does not envisage obtaining of any certificate from any authorities, in any manner. Nevertheless, the revenue is free to move appropriate application to recall this order, if at a later stage, it is ITA.No.1700/Mum/2018 Navin G.Hotkar Assessment Year-2011-12 found that the matter is covered by any exceptions provided in the aforesaid circular.
The appeal stand dismissed. Order pronounced in the open court on 10th August, 2018.