DY.CIT-24(2), MUMBAI vs. MAHANT M. MAHATYAGI, MUMBAI

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ITA 6315/MUM/2011Status: DisposedITAT Mumbai17 July 2018AY 2005-063 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 held that the appeal was barred by monetary limitation as per CBDT Circular No. 03/2018. The tax effect was below the prescribed limit of Rs. 20.00 lacs.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for AY 2005-06. The tax effect in dispute, related to bogus purchases, was Rs. 16,25,381/-.

What were the issues?

Whether the Revenue's appeal is maintainable before the Tribunal considering the monetary limits prescribed by CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: SHRI R. C. SHARMA, AM, & SHRI AMARJIT SINGH, JM

Hearing: 17/07/2018

O R D E R PER AMARJIT SINGH, JM:

The captioned appeal filed by the Revenue is directed against the order of the CIT(A)-34, Mumbai dated 22.07.2011, pertaining to the Assessment Year 2005-06, which in turn has arisen from the order passed by the Assessing Officer dated 20.08.2010 under section 143(3), r.w.s. 147 of the I.T. Act, of the Income Tax Act, 1961 (in short ‘the Act’).

2.

At the very outset, the Ld. Representative of the assessee has argued that the present appeal is barred by the monetary limitation in view of the CBDT Circular No.03/2018 dated 11.07.2018 in which the monetary limit has been confined to the extent of 20.00 lacs for filing of appeals before Tribunal. The 2 A.Y. 2005-06 CBDT vide Circular No.03/2018 dated 11/07/2018 has revised the monetary limits for filing of appeals by the Department before the Tribunal in suppression of Circular N0 21 of 2015 dated 10.12.2015. The tax effect in dispute in the captioned appeal is stated to be below the monetary limit of Rs.20.00 lacs specified in the CBDT Circular dated 11/07/2018 (supra) The quantum in dispute on bogus purchases is amounting to Rs.50,79,316/-. The Tax effect on this amount comes on this 32% which comes to 16,25,381/- which is below the 20.00 lacs. When this was pointed out to Sr. DR, he could not point out that this case falls under any of the exceptions as provided in para 10 of the CBDT Circular no. 03/2018 hence the appeal of revenue as dismissed as withdrawn in view of CBDT Circular No. 03/2018. Order pronounced in the open court on 17/07/2018. Sd/- Sd/- (R. C. SHARMA) (AMARJIT SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Dated: 17/07/2018. *vijay* Copy to : 1) The Appellant 2) The Respondent 3) The CIT(A) concerned 4) The CIT concerned 5) The D.R, “B” Bench, Mumbai 6) Guard file

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