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

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.

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).

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).

Without going into the merit of the issue raised, the captioned appeals are deemed to be withdrawn/not pressed as their filing is not in consonance with the CBDT circular dated 11.07.2018 (supra).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.

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by applying the CBDT circular dated 11.07.2018 (supra), the captioned appeals of the Revenue are dismissed as withdrawn/ not pressed.