DCIT CEN CIR 5(1), MUMBAI vs. AMIT CAPITAL & SECURITIES P.LTD, MUMBAI

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ITA 959/MUM/2017Status: DisposedITAT Mumbai03 August 2018AY 2014-152 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The Tribunal decided to dismiss the appeals as withdrawn/not pressed. This decision was based on the CBDT circular revising the monetary limit for filing appeals, as the current appeals did not meet the threshold and lacked exceptions.

What were the facts?

The Revenue filed appeals before the ITAT. The tax effect in dispute was below the monetary limit prescribed by a CBDT circular for filing appeals. The Revenue did not provide any material to show the appeals were protected by exceptions in the circular.

What were the issues?

Whether the appeals filed by the Revenue are maintainable in light of the revised monetary limits for appeals stipulated by the CBDT circular.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 153A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, L Bench, Mumbai

Before: Shri G.S. Pannu & Shri Pawan Singh

For Appellant: Shri Himanshu Sharma
Hearing: 03.08.2018Pronounced: 03.08.2018

Per Pawan Singh, JM

1.

The captioned appeals filed by the Revenue pertaining to assessment years 2014-15 & 2012-13 are directed against separate orders passed by the CIT(A)-53, Mumbai dated 30.09.2016 which in turn arise out of the orders passed by the Assessing Officer under Section 143(3)/153A r.w.s. 143(3) of the Income Tax Act, 1961 (hereinafter "the Act") respectively.

2.

The CBDT, vide Circular No. 3/2018 dated 11.07.2018, has revised the monetary limit for filing of appeals by the Department before the Tribunal with retrospective effect. The tax effect in dispute in the captioned appeals is stated to be below the monetary limit of `20 lakhs specified in the CBDT Circular dated 11.07.2018 (supra).

3.

In this background, the learned D.R. appearing for the Revenue was required to state his position; he has not referred to any material which would show that the captioned appeals are protected by any of the exceptions provided in para 10 of the CBDT circular (supra).

2 & 960/Mum/2017 M/s. Amit Capital & Securites P. Ltd.

4.

Without going into the merit of the issue raised, the captioned appeals are deemed to be withdrawn/not pressed as their filing is not in consonance with the CBDT circular dated 11.07.2018 (supra). Before parting we may clarify that if on a later date, the Revenue finds that filing of the appeals is protected by the exceptions provided in para 10 of the CBDT circular (supra), it shall be at liberty to approach the Tribunal for recall of the order and reinstitution of the appeals for adjudication on merits. The Tribunal shall consider such application, if any, as per the extant law.

5.

In conclusion, by applying the CBDT circular dated 11.07.2018 (supra), the captioned appeals of the Revenue are dismissed as withdrawn/ not pressed.

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