DCIT, CIRCLE - 8, KOLKATA, KOLKATA vs. M/S. THE SATURDAY CLUB LTD., KOLKATA

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ITA 1745/KOL/2014Status: DisposedITAT Kolkata03 December 2018AY 2007-20082 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 filed by the Revenue was not maintainable due to the low tax effect. The CBDT circular regarding monetary limits was applicable to pending appeals.

What were the facts?

The Revenue appealed the deletion of additions made by the Assessing Officer regarding contractual receipts and rental income. The tax effect of the appeal was below the monetary limit set by the CBDT for filing appeals.

What were the issues?

Whether an appeal filed by the Revenue is maintainable before the Tribunal when the tax effect is below the prescribed monetary limit set by the CBDT.

AI-generated summary — verify with the full judgment below

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

Before: Shri P.M. Jagtap, Vice-(KZ) & Shri A.T. Varkey

Per Shri P.M. Jagtap, Vice-President (KZ):- This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-XXXII, Kolkata dated 20.06.2014 on the following grounds:- (i) That on the facts and circumstances of the case and in law, the ld. CIT(A) erred in deleting the addition made by the AO of Rs.12,27,063/- on account of contractual receipt from M/s. Agarwal Merchandise Tie Up Pvt. Ltd. in addition to AY 2007-08. (ii) That on the facts and circumstances of the case and in law, the ld. CIT(A) erred in deleting the addition made by AO of A.Y. 2007-2008 M/s. The Saturday Club Limited

1.

Rs.36,26,790/- on account of rental income received from M/s. Reliance Industries Ltd. in relation to AY 2007-08.

2.

At the time of hearing fixing in this case today, the ld. Counsel for the assessee has filed an application seeking adjournment. The ld. D.R., however, has pointed out from the grounds raised by the Revenue in this appeal that the tax effect involved in this appeal is less than the monetary limit of Rs.20 lakhs fixed by the CBDT vide Circular No. 3/2018 dated 11.07.2018 for filing the appeal before the Tribunal. Since the said Circular issued by the CBDT is made applicable to all the pending appeals also, we treat this appeal of the Revenue as not maintainable on account of low tax effect and dismiss the same.

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