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Income Tax Appellate Tribunal, ‘D’ BENCH, CHENNAI
Before: SHRI A.MOHAN ALANKAMONY & SHRI DUVVURU RL REDDY
आदेश / O R D E R
Per A. Mohan Alankamony, AM:-
The appeal by the Revenue is directed against the order passed by the learned Commissioner of Income Tax (Appeals)-3,
Chennai dated 30.06.2017 in for the CO No.6 /Chny/2018 assessment year 2011-12 passed U/s.250(6) r.w.s. 143(3) and 92CA(4) & 144C of the Act. The assessee has also raised cross objection in support of the order of the Ld.CIT(A) supra.
At the outset, the Ld.AR submitted before us that the above mentioned appeal is not maintainable due to the latest Circular No.3/2018 dated 11.07.2018 issued by the CBDT with respect to monetary limit. Hence, it was pleaded that the appeal of the Revenue may be dismissed. The Ld. DR could not controvert to the submission of the Ld.AR.
After hearing both sides we find merit in the submission of the Ld.AR. The CBDT has directed the Revenue not to file appeal before the Tribunal where the tax effect does not exceed Rs.20 lakhs. In the above mentioned appeal of the assessee the tax effect is less than Rs.20 lakhs. Therefore, we hereby dismiss the appeal filed by the Revenue as not maintainable.
Since we have dismissed the appeal filed by the Revenue on monetary limits, the cross objection filed by the assessee has become infructuous and dismissed accordingly.
CO No.6 /Chny/2018 5. In the result the appeal filed by the Revenue as well as the cross objection filed by the assessee are dismissed.
Order pronounced in the open court on 17th July, 2018 at Chennai.