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Income Tax Appellate Tribunal, MUMBAI BENCH “SMC”, MUMBAI
Before: SHRI G.S.PANNU & SHRI RAVISH SOOD
ORDER PER G.S.PANNU,A.M:
The captioned appeal filed by the Revenue pertaining to assessment year 2011-12 is directed against an order passed by the CIT(A) -57, Mumbai dated 22/08/2017, which in turn arises out of an order passed by the Assessing Officer under section 143(3) r.w.s. 147 of the Income Tax Act, 1961 (in short ‘the Act’) dated 21.03/2016.
In this appeal, Revenue has raised the following Grounds of appeal:-
(Assessment Year 2011-12) 1. "Whether in facts and circumstances of the case and in law, the Ld CIT(A) erred in deleting the addition made on account of income earned from undisclosed sources ignoring the detailed report of investigation wing which is duly incorporated by assessing officer in its order."
2. "Whether in facts and circumstances of the case and in law the Ld CIT(A) erred in deleting the addition made on account of income earned from undisclosed source despite the fact that onus to prove genuineness, nature & source of the credit entries lies on assessee, which assessee failed to do during the course of assessment proceedings".
3. "Whether in facts and circumstances of the case and in law, the Ld. CIT(A) erred in taking a view that the addition was made u/s 69C of the I.T Act, 1961 whereas the Assessing Officer has not made the addition u/s 69C of the IT Act, 1961". 4.. " The Appellant prays that the order of the Ld.CIT(A) on the above ground(s) be set aside and that of the Assessing Officer be restored."
At the outset, it was submitted by Ld. Representative for the assessee that the tax effect involved in the appeal of the Revenue is less than Rs.10.00 lacs, and the same has been accepted by the Ld. Departmental Representative. The CBDT vide Circular No.21/2015 dated 10/12/2015 has revised the monetary limits for filing of appeals by the Department before the Tribunal retrospectively. Since the tax effect in dispute in the captioned appeal is stated to be below the monetary limit of Rs.10.00 lacs specified in the CBDT Circular dated 10/12/2015 (supra), the same is dismissed as not maintainable.
In the result, appeal of the Revenue is dismissed.
Order pronounced in the open court on 31/01/2018.