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Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI
Before: SHRI N.R.S. GANESAN & SHRI A.MOHAN ALANKAMONY
आदेश / O R D E R Per A. Mohan Alankamony, AM:-
This appeal by the Revenue is directed against the order passed by the learned Commissioner of Income Tax(Appeals)-1, Chennai, dated 25.10.2017 in for the assessment year 2013-14 passed U/s. 250(6) r.w.s. 143(3) of the Act.
At the outset, the Ld.AR submitted before us that the above mentioned appeal is not maintainable due to the latest Circular No.3/2018 dated 11.07.2018 issued by the CBDT with respect to monetary limit.
Hence, it was pleaded that the appeal of the Revenue may be dismissed. The Ld. DR could not controvert to the submission of the Ld.AR.
After hearing both sides we find merit in the submission of the Ld.AR. The CBDT in its latest Circular No.3/2018 dated 11.07.2018 had fixed the monetary tax effect as Rs.20 lakhs for filing appeal before the Tribunal. Further, it is apparent from the orders of the Ld.Revenue Authorities that in the case of the assessee, tax effect is below Rs.20 lakhs which is also conceded by the Ld.DR. The CBDT in its latest Circular No.3/2018 dated 11.07.2018 had fixed the monetary tax effect as Rs.20 lakhs for filing appeal before the Tribunal. Hence due to the instructions issued by the CBDT vide its Circular mentioned herein above, we hereby hold that the appeal filed by the Revenue is not maintainable and accordingly the appeal of the Revenue is dismissed.
In the result the appeal filed by the Revenue is dismissed.
Order pronounced in the open court on 23rd October, 2018 at Chennai.