What did the Tribunal hold?

Following the CBDT Circular No. 3/2018, which mandates dismissal of appeals with a tax effect below a certain limit, the Tribunal dismissed the appeal.

The appeal was filed by the Revenue. The tax effect in the appeal did not exceed the monetary limit prescribed by the CBDT Circular No. 3/2018.

What were the issues?

Whether the appeal filed by the Revenue should be dismissed based on the monetary limit prescribed by the CBDT for tax effect.

ITO vs M/S M. B. Associates | ITAT Kolkata 2019

Income Tax Appellate Tribunal, KOLKATA ‘B’ BENCH, KOLKATA

Before: Sri J. Sudhakar Reddy & Sri S.S. Godara]

Date of concluding the hearing : December 17th, 2018 Date of pronouncing the order : January 16th, 2019 O R D E R Per J. Sudhakar Reddy :-

The undisputed fact in this appeal is that the tax effect does not exceed the monetary limit of Rs.20,00,000/-, fixed by the CBDT Circular No.3/2018, F. NO. 279/Misc. 142/2007-ITJ (Pt), dt. 11th July, 2018. As mandated by this above referred Circular No. 3/2018, the appeal of the revenue is dismissed.

In the result, appeal of the revenue is dismissed. Kolkata, the 16th day of January, 2019. Sd/- Sd/- [S.S. Godara] [J. Sudhakar Reddy] Judicial Member Accountant Member Dated : 16.01.2019 {SC SPS}

Assessment Year: 2008-09 M/s. M.B. Associates Copy of the order forwarded to: 1. M/s. M.B. Associates C/o Ashok Chatterjee Mukharjee Sanyal Samanta & Co 37/1 Purna Das Road Triangular Park Kolkata – 700 029

2. Income Tax Officer, Wd-30(2), Kolkata 3. CIT(A)- 4. CIT- , 5. CIT(DR), Kolkata Benches, Kolkata.

ITO, WD-30(2), KOLKATA, KOLKATA vs. M/S M. B. ASSOCIATES, KOLKATA

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

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