ACIT, CIRCLE - 40, KOLKATA, KOLKATA vs. SUHASINI LOHIA, KOLKATA

- This Revenue’s appeal and assessee’s Cross Objection (CO) for assessment year 2013-14 arise from Commissioner of Income Tax (Appeals)- 12, Kolkata’s order dated 07.03.2017 passed in case No.185/CIT(A)- 12/Kol//Circle-40/2015-16, reversing Assessing Officer’s action disallowing section 80IB deduction claim of ₹61,46,669/-, in proceedings u/s143(3) of the Income Tax Act, 1961.

Learned Authorised Representative at the outset files before us a computation chart indicating the net tax effect involved in the instant Revenue’s appeal to be ₹19,16,784/- i.e less the minimum threshold limit of ₹20 lakh prescribed in the CBDT’s latest Circular No.3/2018 dated CO 83/Kol/2017 A.Y. 2013-14 ACIT Cir-40 Kol. Vs. Suhasini Lohia Page 2 11.07.2018 made applicable in all pending lis instituted at its behest. We thus hold that this Revenue’s appeal is not maintainable for having involved less than the above prescribed tax limit.

Learned Authorized Representative thereafter informs the assessee to be no more interested to press for its CO 83/Kol/2017. The same is dismissed as not pressed,