What did the Tribunal hold?

Following the CBDT Circular No. 3/2018, the Tribunal held that appeals with a tax effect below the specified limit should be dismissed. Therefore, the appeal filed by the Revenue was dismissed.

The appeal was filed by the Revenue. The tax effect in the appeal did not exceed the monetary limit of Rs. 20,00,000 as per CBDT Circular No. 3/2018.

What were the issues?

Whether the appeal filed by the Revenue should be dismissed based on the monetary limit prescribed by the CBDT for tax effect.

JCIT vs M/S Beeyu Overseas Ltd. | ITAT Kolkata 2019

Income Tax Appellate Tribunal, KOLKATA ‘A’ BENCH, KOLKATA

Before: Sri J. Sudhakar Reddy & Sri S.S. Godara]

Date of concluding the hearing : January 22nd, 2019 Date of pronouncing the order : February 26th, 2019 O R D E R Per J. Sudhakar Reddy :-

The undisputed fact in this appeal is that the tax effect does not exceed the monetary limit of Rs.20,00,000/-, fixed by the CBDT Circular No.3/2018, F. NO. 279/Misc. 142/2007-ITJ (Pt), dt. 11th July, 2018. As mandated by this above referred Circular No. 3/2018, the appeal of the revenue is dismissed.

In the result, appeal of the revenue is dismissed. Kolkata, the 26th day of February, 2019. Sd/- Sd/- [S.S. Godara] [J. Sudhakar Reddy] Judicial Member Accountant Member Dated : 26.02.2019 {SC SPS}

2 Assessment Year: 2005-06 M/s. Beeyu Overseas Ltd Copy of the order forwarded to: 1. M/s. Beeyu Overseas Ltd 64A, Ballygunge Circular Road Kolkata – 700 019 2. JCIT (OSD), Circle-4(1), Kolkata 3. CIT(A)- 4. CIT- , 5. CIT(DR), Kolkata Benches, Kolkata.

JCIT, (OSD), CIR-4(1), KOLKATA, KOLKATA vs. M/S BEEYU OVERSEAS LTD., KOLKATA

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

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