ACIT, CENTRAL CIRCLE - 2(4), KOLKATA, KOLKATA vs. M/S. ROSEWOOD COMMOSALES PVT. LTD., KOLKATA

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ITA 2269/KOL/2017Status: DisposedITAT Kolkata04 September 2018AY 2014-152 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The Tribunal, following the CBDT Circular, dismissed the appeal filed by the Revenue as withdrawn. The circular mandates withdrawal of appeals with a tax effect below a certain threshold.

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 CBDT Circular No. 3/2018.

What were the issues?

Whether an appeal filed by the Revenue should be dismissed as withdrawn when the tax effect is below the monetary limit specified by CBDT Circular No. 3/2018.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 ‘SMC’ BENCH, KOLKATA

Before: Sri J. Sudhakar Reddy

Assessment Year: 2014-15 Assistant Commissioner of Income Tax, Circle-2(4) Kolkata.…...................….......…....... Appellant M/s. Rosewood Commonsales Pvt. Ltd..........…………..………………………………..….……......Respondent 8, Camac Street 6th Floor Kolkata – 700 017 [PAN : AAECR 3861 P] Appearances by: Shri Manish Tiwari, FCA, appeared on behalf of the assessee. Shri S.M. Das, Addl. CIT, Sr. D/R. appearing on behalf of the Revenue. Date of concluding the hearing : July 18th, 2018 Date of pronouncing the order : September 4th, 2018 ORDER Per J. Sudhakar Reddy, AM :- In this appeal of the revenue, the undisputed fact is that the tax effect does not exceed the monetary limit of Rs.20,00,000/-, as 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 As mandated by this above referred Circular No. 3/2018, this appeal of the revenue is dismissed as withdrawn. In the result, appeal of the revenue is dismissed.

Kolkata, the 4th day of September, 2018. Sd/- [J. Sudhakar Reddy] Accountant Member Dated : 04.09.2018 {SC SPS}

Assessment Year: 2014-15 M/s. Rosewood Commonsales Pvt. Ltd Copy of the order forwarded to:

1.

M/s. Rosewood Commonsales Pvt. Ltd 8, Camac Street 6th Floor Kolkata – 700 017 2. Assistant Commissioner of Income Tax, Circle-2(4) Kolkata 3. CIT(A)- 4. CIT- , 5. CIT(DR), Kolkata Benches, Kolkata.

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