ITO 2(2)(2), MUMBAI vs. KHANDELWAL BROTHERS LTD., MUMBAI

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ITA 2823/MUM/2016Status: DisposedITAT Mumbai27 July 2018AY 2008-092 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 noted that the tax effect was below the monetary limit specified by the CBDT. Consequently, the appeal filed by the Revenue was dismissed as not maintainable.

What were the facts?

The appeal was filed by the Revenue against an order of the CIT(A) for Assessment Year 2008-09. The tax effect involved in the appeal was below the monetary limit prescribed by the CBDT.

What were the issues?

Whether the appeal filed by the Revenue is maintainable given the tax effect is below the CBDT's prescribed monetary limit.

Which sections of the Income-tax Act were involved?

Section 268A,Section 253,Section 254(1)

AI-generated summary — verify with the full judgment below

IN THE INCOME-TAX APPELLATE TRIBUNAL “H” BENCH MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH, JUDICIAL MEMBER ITO-2(2)(2), M/s Khandelwal Brothers Ltd. Room No.549, Aayakar 269, Reliance Building, 2nd Floor, Dr. D. N. Road, Bhavan, M.K. Road, Vs. Mumbai-400020. Fort, Mumbai-400001 PAN: AAACK2831Q Appellant Respondent Appellant by : Shri M.C. Omi Ningshen (DR) Respondent by : Shri Surinder Mehra (AR) Date of Hearing : 27.07.2018 Date of Pronouncement : 27.07.2018 ORDERUNDER SECTION 254(1)OF INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER;

This appeal under Section 253 of Income-tax Act is directed against the order of ld. CIT(A)-5, Mumbai dated 05.01.2016 for Assessment Year 2008-09. We have noted that the tax effect involve in the appeal is below the monetary limit of Rs. 20,00,000/- as prescribed by the Central Board of Direct Taxes(CBDT), vide its Circular No.3/2018 dated 11th July, 2018. 2. Shri Surendra Mehra (AR) has appeared on behalf of the assessee. The Departmental Representative (DR) conceded that the tax effect involved in the present case is less than Rs. 20,00,000/-. Considering the instruction of CBDT in Circular No. 3 of 2018, the appeal of the revenue is dismissed as not maintainable u/s. 268A of the Income-tax Act.

3.

In the result, appeal of the Revenue is dismissed. Order pronounced in the open court on this 27/07/2017. G.S. PANNU PAWAN SINGH ACCOUNTANT MEMBER JUDICIAL MEMBER

ITA No.2823/M/16- M/s Khandelwal Brothers Ltd.

Mumbai, Date: 27.07.2018 SK Copy of the Order forwarded to :

1.

Assessee 2. Respondent

3.

The concerned CIT(A) 4.The concerned CIT

5.

DR “H” Bench, ITAT, Mumbai 6. Guard File

BY ORDER, Dy./Asst.

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