INCOME-TAX OFFICER vs. SHRI MANISH R. DHOOT, AURANGABAD

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ITA 1279/PUN/2014Status: DisposedITAT Pune26 July 2018AY 2011-123 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 liable to be dismissed due to low tax effect, as it was below the revised monetary limit prescribed by CBDT Circular No. 3/2018.

What were the facts?

The Revenue appealed an order of the CIT(A) which deleted an addition of Rs. 44,13,092/-. The tax effect involved in the appeal was Rs. 13,63,645/-.

What were the issues?

Whether the appeal filed by the Revenue should be dismissed on the grounds of low tax effect as per the prevailing CBDT circular.

Which sections of the Income-tax Act were involved?

Section 2(22)(e)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, PUNE

Before: SHRI D. KARUNAKARA RAO, AM & SHRI VIKAS AWASTHY, JM

For Appellant: Shri Kishor Phadke
For Respondent: Shri Ajay Modi

आदेश / ORDER

PER VIKAS AWASTHY, JM :

The appeal has been filed by the Revenue against the order of Commissioner of Income Tax (Appeals), Aurangabad dated 28-03-2014 for the assessment year 2011-12.

2.

Shri Kishor Phadke appearing on behalf of the assessee submitted at the outset that the appeal of the Revenue is liable to be dismissed on account of low tax effect in terms of recent CBDT Circular No. 3/2018,

2 ITA No. 1279/PUN/2014, A.Y. 2011-12

dated 11-07-2018. The ld. AR furnished working of tax effect involved in the appeal.

3.

Shri Ajay Modi representing the Department fairly admitted that in the present appeal by the Department tax effect is less than Rs.20 lakhs.

4.

Both sides heard. The Revenue is in appeal against the order of Commissioner of Income Tax (Appeals) in deleting the addition of Rs.44,13,092/- made on account of deemed dividend u/s. 2(22)(e) of the Act. Undisputedly, the tax effect involved in appeal is Rs.13,63,645/-, which is less than the monetary limit prescribed by recent CBDT Circular for filing of appeals before the Tribunal by the Department. The CBDT vide Circular No. 3/2018, dated 11-07-2018 has raised the monetary limit of tax effect for filing of appeals by the Department before the Tribunal to Rs.20 lakhs. The circular applies to the appeals to be filed by the Department in future, as well as the appeals pending before the Tribunal. Thus, in view of the CBDT Circular the present appeal of the Revenue is liable to be dismissed on account of low tax effect.

5.

In the result, the appeal of the Revenue is dismissed.

Order pronounced in the open court at the time of hearing on Thursday, the 26th day of July, 2018.

Sd/- Sd/- (डी. करुणाकरा राव/D. Karunakara Rao) (ववकास अवस्थी / Vikas Awasthy) ऱेखा सदस्य / ACCOUNTANT MEMBER न्याययक सदस्य / JUDICIAL MEMBER ऩुणे / Pune; ददनाांक / Dated : 26th July, 2018 RK

3 ITA No. 1279/PUN/2014, A.Y. 2011-12

आदेश की प्रयिलऱवऩ अग्रेवषि / Copy of the Order forwarded to : अऩीऱाथी / The Appellant. 1. प्रत्यथी / The Respondent. 2. आयकर आयुक्त (अऩीऱ) / The CIT(A), Aurangabad 3. आयकर आयुक्त / The CIT, Central, Nagpur 4. ववभागीय प्रयतयनधध, आयकर अऩीऱीय अधधकरण, “ए” बेंच, 5. ऩुणे / DR, ITAT, “A” Bench, Pune. गाडड फ़ाइऱ / Guard File. 6. //सत्यावऩत प्रयत // True Copy// आदेशानुसार / BY ORDER,

यनजी सधचव / Private Secretary, आयकर अऩीऱीय अधधकरण, ऩुणे / ITAT, Pune

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