ITO 6(3)(3), MUMBAI vs. PARESH AMBALAL PATEL, MUMBAI

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ITA 2047/MUM/2017Status: DisposedITAT Mumbai19 July 2018AY 2009-102 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 dismissed the Revenue's appeal in limine as the tax effect was below the threshold specified in CBDT Circular No. 3/2018. The Revenue was granted liberty to file a miscellaneous application if the issue fell under exceptions to the circular.

What were the facts?

The Revenue appealed against the CIT(A)'s order deleting an addition of Rs. 52.32 lakhs made under Section 50C. The tax effect involved in the appeal was less than Rs. 20 lakhs.

What were the issues?

Whether the Revenue's appeal should be entertained given the tax effect and CBDT Circular No. 3/2018, and if the issue falls within the exceptions of the circular.

Which sections of the Income-tax Act were involved?

Section 50C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” Bench, Mumbai

Before: Shri B.R. Baskaran (AM) & Shri Ramlal Negi (JM)

For Appellant: Shri Hiro Rai
For Respondent: Shri Rajat Mittal
Hearing: 19.7.2018Pronounced: 19.7.2018

O R D E R Per B.R. Baskaran (AM) :

The Revenue has filed this appeal challenging the order dated 5.1.2017 passed by the learned CIT(A)-12, Mumbai and it relates to A.Y. 2009-10. The Revenue is aggrieved by the decision of the learned CIT(A) in deleting the addition of ` 52.32 lakhs made u/s. 50C of the Act.

2.

The Learned AR submitted that the tax effect involved in this appeal is less than ` 20 lakhs and hence as per CBDT Circular No. 3/2018 dated 11.7.2018, the Revenue is precluded from pursuing this appeal.

3.

The Learned DR, however, sought time to get certificate from PCIT/CIT concerned that the grounds urged in this appeal do not fall under any of the exception specified in the said circular. However, from the available material, learned DR could not point out that the issue contested in this appeal fall in any of the exceptions specified in the circular.

4.

We have noticed that the tax effect involved in this appeal is less than Rs.20.00 lakhs and the issue contested herein also apparently does not fall in any of the exceptions specified in the Circular. Accordingly we dismiss the appeal of the revenue in limine. However, the revenue is given liberty to move miscellaneous application seeking recall of this order, if it is found that the issue contested in this appeal falls in any of the exceptions provided in paragraph 10 of the Circular.

5.

In the result, the appeal of the revenue is dismissed. Order has been pronounced in the Court on 19.7.2018.

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