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

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ITA 1491/KOL/2017Status: DisposedITAT Kolkata31 July 2018AY 2013-142 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 held that the Revenue's appeal was not maintainable due to the low tax effect. The assessee's cross-objection was dismissed as not pressed.

What were the facts?

The Revenue appealed against the CIT(A)'s order which reversed the disallowance of Section 80IB deduction. The tax effect in the Revenue's appeal was below the threshold limit prescribed by CBDT Circular No. 3/2018.

What were the issues?

Maintainability of the Revenue's appeal due to low tax effect and whether the assessee wished to press its cross-objection.

Which sections of the Income-tax Act were involved?

Section 80IB,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “B” KOLKATA

Before: Shri S.S.Godara & Shri, M. Balaganesh

Heard together (2 matters)

ITA No.1491/Kol/2017
C.O. No.83/Kol/2017

Read from the judgment's own cause title. This page is filed under one of them.

O R D E R

PER S.S.Godara, Judicial Member:

1.

- 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.

2.

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.

3.

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,

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