DCIT CORPORATE CIRCLE 4(1), CHENNAI vs. MEDICLONE BIOTECH PVT. LIMITED, CHENNAI

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ITA 2600/CHNY/2017Status: DisposedITAT Chennai03 September 2018AY 2013-142 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 ₹20,00,000/-. Following the CBDT circular, the appeal of the Revenue could not be sustained.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A). The Departmental Representative conceded that the tax effect was below the threshold limit specified by CBDT Circular No. 3/2018.

What were the issues?

Whether the Revenue's appeal should be withdrawn or not pressed due to low tax effect as per CBDT guidelines.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH : CHENNAI

Before: SHRI ABRAHAM P. GEORGE & SHRI DUVVURU RL REDDY]

आदेश / O R D E R

PER ABRAHAM P. GEORGE, ACCOUNTANT MEMBER

1.

This appeal of the Revenue is directed against an order dated 03.08.2017 of the Commissioner of Income-tax (Appeals)-08, Chennai.

Ld. Departmental Representative fairly agreed that the tax 2. effect was less than �20,00,000/- and by virtue of para 13 of CBDT

ITA No.2600 /2017 :- 2 -:

Circular No.3/2018, dated 11.07.2018, pending appeals below the specified tax limit had to be withdrawn/not pressed.

3.

None appeared on behalf of the assessee.

4.

We have considered the submission of the ld. Departmental Representative. Since the tax effect in this appeal is less than �20,00,000/-, appeal of the Revenue cannot survive.

In the result, the appeal of the Revenue stands dismissed. 5.

Order pronounced on Monday, the 3rd day of September, 2018, at Chennai.

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