ACIT 11(3)(2), THANE vs. VIVID VISION TREXIM P LTD, MUMBAI
In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.
What did the Tribunal hold?
The Tribunal found that the tax effect of the disputed additions was below the Rs. 20 Lacs limit mentioned in CBDT Circular No. 03/2018. This circular applies to pending appeals as well.
What were the facts?
The Revenue appealed against the deletion of additions made by the Assessing Officer. The assessee argued that the tax effect of the disputed additions was below the monetary limit prescribed by a CBDT circular for filing appeals.
What were the issues?
Whether the Revenue's appeal should be dismissed based on the low tax effect as per the CBDT circular.
Which sections of the Income-tax Act were involved?
None explicitly mentioned as the decision is based on a circular
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, “D” BENCH, MUMBAI
Before: SHRI SAKTIJIT DEY, JM & SHRI MANOJ KUMAR AGGARWAL, AM
Per Manoj Kumar Aggarwal (Accountant Member)
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