DCIT, CIRCLE-8(1), KOLKATA, KOLKATA vs. M/S MIMIC(INDIA) LTD., KOLKATA

ITA 1584/KOL/2016Status: DisposedITAT Kolkata09 October 2018AY 2012-132 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?

Following the CBDT circular, the Tribunal decided that the appeal should be dismissed as withdrawn due to the low tax effect. The appeal was accordingly dismissed.

What were the facts?

The Revenue filed an appeal before the ITAT. The tax effect in the appeal did not exceed the monetary limit prescribed by a CBDT circular.

What were the issues?

The primary issue was whether the Revenue's appeal should be dismissed based on the monetary limit for appeals set by the CBDT.

AI-generated summary — verify with the full judgment below

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

Before: Shri J. Sudhakar Reddy, AM & Shri S.S. Viswanethra Ravi, JM

order

: October 9th, 2018 ORDER

Per S.S. Viswanethra Ravi, JM

In the revenue appeal, the undisputed fact 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As mandated by this above referred Circular No. 3/2018, the appeal is dismissed as withdrawn.

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