ASST CIT 11(1)(2), MUMBAI vs. UNIFRAX INDIA LTD, MUMBAI

Aforesaid appeal by revenue for Assessment Year [AY] 2011-12 contest the order of the Ld. Commissioner of Income-Tax (Appeals)-04 [CIT(A)], Ahmedabad, Appeal No.CIT(A)-4/385/DCIT/Cir.8/14-15 dated 25/07/2015 qua deletion of certain expenditure of Rs.26.19 Lacs as made by Ld. AO in an assessment u/s 143(3) on 30/12/2013. None has Unifrax India Limited Assessment Year-2011-12 appeared for assessee and no adjournment application is on record. Therefore, left with no option, we proceed to dispose-off the appeal on the basis of material available on record and after hearing Ld. Departmental Representative [DR].

At the outset, it is noted that tax effect of the quantum additions as contested by the 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, Ms. Pooja Swaroop, has controverted the same by submitting that necessary instructions / certificate, in this regard, would be required from higher authorities. 3. We have gone through the circular and find that the tax effect of quantum in 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:-

The appeal stand dismissed.