DCIT 5(2)(1), MUMBAI vs. NEON METALS IMPEX P. LTD, MUMBAI

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ITA 3204/MUM/2017Status: DisposedITAT Mumbai03 August 2018AY 2007-084 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 given liberty to move a miscellaneous application if the issue fell under exceptions.

What were the facts?

The revenue filed appeals against orders of the CIT(A) granting relief to assessees. The tax effect in these appeals was less than Rs. 20.00 lakhs.

What were the issues?

Whether the revenue's appeal should be pursued when the tax effect is below the prescribed monetary limit as per CBDT circulars.

AI-generated summary — verify with the full judgment below

Heard together (4 matters)

I.T.A. No.3122/Mum/2017
I.T.A. No.3150/Mum/2017
I.T.A. No.3204/Mum/2017
I.T.A. No.3237/Mum/2017

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 03.08.2018. Sd/- Sd/- (AMARJIT SINGH) (B. R. BASKARAN) न्यधनिक सदस्य/JUDICIAL MEMBER लेखध सदस्य / ACCOUNTANT MEMBER मुंबई Mumbai; दिनांक Dated : 03.08.2018. Vijay

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