What did the Tribunal hold?

The Tribunal held that the appeal of the Revenue is liable to be dismissed due to low tax effect, as per CBDT Circular No. 3/2018 which raised the monetary limit for appeals to Rs. 20 lakhs.

The Revenue filed an appeal against the CIT(A)'s order deleting an addition of Rs. 27,28,948/-. The tax effect involved in the appeal was less than Rs. 20 lakhs.

What were the issues?

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

Assistant Commssioner of… vs Smt. Taradevi Ratanlal Bafna… | ITAT Pune 2018

Income Tax Appellate Tribunal, “A” BENCH, PUNE

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

For Appellant: Shri Sunil Ganoo

For Respondent: Shri Mukesh Jha

आदेश / ORDER

PER VIKAS AWASTHY, JM :

The appeal has been filed by the Revenue against the order of Commissioner of Income Tax (Appeals)-2, Nashik dated 13-01-2015 for the assessment year 2011-12.

Shri Sunil Ganoo appearing on behalf of the assessee submitted at the outset that the appeal of the Revenue is liable to be dismissed on

2 ITA No. 366/PUN/2015, A.Y. 2011-12

account of low tax effect in terms of recent CBDT Circular No. 3/2018, dated 11-07-2018.

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

Both sides heard. The Revenue is in appeal against the order of Commissioner of Income Tax (Appeals) in deleting the addition of Rs.27,28,948/- made by the Assessing Officer on account of melting gains of gold in URD purchase. Undisputedly, the tax effect involved in appeal 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.

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

Order pronounced in the open court at the time of hearing on Tuesday, the 17th 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 : 17th July, 2018 RK

3 ITA No. 366/PUN/2015, 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)-2, Nashik 3. आयकर आयुक्त / The CIT-2, Nashik 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

ASSISTANT COMMSSIONER OF INCOME-TAX vs. SMT. TARADEVI RATANLAL BAFNA, JALGAON

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