ACIT CIRCLE 1, SALEM vs. GEETHA RAMAKRISHNA SPINNING MILLS PVT. LTD., SALEM

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ITA 865/CHNY/2018Status: DisposedITAT Chennai19 September 2018AY 2008-092 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 noted that the tax effect was less than Rs. 20.00 lakhs. Consequently, the appeal filed by the Revenue could not be sustained.

What were the facts?

The Revenue filed an appeal before the ITAT against the order of the CIT(A). The assessee pointed out that the tax effect in the appeal was less than Rs. 20.00 lakhs.

What were the issues?

Whether the appeal filed by the Revenue is maintainable before the Tribunal when the tax effect is below the prescribed monetary limit as per CBDT circular.

Which sections of the Income-tax Act were involved?

CBDT Circular No.3/2018

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A/SMC’ BENCH: CHENNAI

Before: SHRI ABRAHAM P.GEORGE & SHRI DUVVURU R.L.REDDY

Hearing: 08.08.2018Pronounced: 19.09.2018

आदेश / O R D E R PER DUVVURU R.L.REDDY, JUDICIAL MEMBER:

1.

This appeal filed by the Revenue is directed against the order of the Commissioner of Income Tax (Appeals), Salem, in appeal No.22/2015-16 dated 22.12.2017 for the AY 2008-09.

2.

The Counsel for the assessee pointed out that the tax effect in this case was less than Rs.20.00 lakhs. Hence, the appeal of the Revenue would not lie before this Tribunal by virtue of CBDT Circular No.3/2018 dated 11.07.2018.

3.

Ld. Departmental Representative fairly agreed that the tax effect was less than Rs.20.00 lakhs.

4.

We have heard the rival contentions and perused the orders of the authorities below.

5.

The tax effect in the appeal of the Revenue being less than Rs.20.00 lakhs, it cannot survive.

6.

In the result, the appeal filed by the Revenue is dismissed.

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