DCIT, CIRCLE-5(1), KOLKATA, KOLKATA vs. M/S. SOMANY CERAMICS LTD. ( FORMERLY KNOWN AS SPL LTD.), KOLKATA

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ITA 2444/KOL/2017Status: DisposedITAT Kolkata06 September 2018AY 2003-042 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Following CBDT Circular No.3/2018, the Tribunal dismissed the Revenue's appeal as withdrawn because the tax effect was below the prescribed monetary limit.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for AY 2003-04. The tax effect in the appeal did not exceed the monetary limit prescribed by CBDT Circular No.3/2018.

What were the issues?

Whether the Revenue's appeal should be dismissed as withdrawn due to the tax effect being below the monetary limit specified by CBDT Circular No.3/2018.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “D”, KOLKATA

Before: SH. J.SUDHAKAR REDDY & SH. S.S.VISWANETHRA RAVI

Hearing: 06.09.2018Pronounced: 06.09.2018

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH “D”, KOLKATA BEFORE SH. J.SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SH. S.S.VISWANETHRA RAVI, JUDICIAL MEMBER Year: 2003-04] vs DCIT, M/s. Somany Ceramics Ltd., Circle-5(1), P-7, 2, Red Cross Place, Kolkata-700001. Chowringhee Square, Kolkata-700069. PAN-AAECS0763K (Appellant) (Respondent) Appellant by Sh.M.K.Biswas, Addl. CIT Respondent by Sh.P.K.Sanghai, FCA Date of Hearing 06.09.2018 Date of Pronouncement 06.09.2018 ORDER

PER S.S. VISWANETHRA RAVI, JUDICIAL MEMBER

1.

This appeal filed by the Revenue against the order dated 02.06.2017 passed by CIT(A)-2, Kolkata for AY 2003-04.

2.

In the relevant 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.0279/Misc.142/2007-ITJ(Pt), dated 11th July, 2018. 3. As mandated by this above referred Circular No.3/2018, the appeal of the Revenue is dismissed as withdrawn. 4. In the result, the appeal of the Revenue is dismissed. Order pronounced in the open court on 06.09.2018.

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