ACIT, CIRCLE-40, KOLKATA,KOLKATA vs. M/S ECONOMIC TRANSPORT ORGANISATION, KOLKATA

ITA 270/KOL/2017Status: DisposedITAT Kolkata18 July 2018AY 2000-012 pages

AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal noted that the tax effect was below the monetary limit set by the CBDT. Therefore, the appeal was dismissed as withdrawn.

What were the facts?

The revenue filed an appeal before the ITAT for the assessment year 2014-15. The tax effect in this appeal did not exceed the monetary limit prescribed by the CBDT.

What were the issues?

The primary issue was whether the revenue appeal should be dismissed due to the tax effect being below the prescribed monetary limit as per CBDT circular.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘B’ BENCH, KOLKATA

Before: Sri J. Sudhakar Reddy & Sri S.S. Viswanethra Ravi

Appearances by: Shri S.K. Chattopadhyay, Advocate & Shri R.C. Kundu, Advocate, appeared on behalf of the assessee. Shri S. Dasgupta, Addl. CIT, D/R. appearing on behalf of the Revenue. Date of concluding the hearing : July 18th, 2018 Date of pronouncing the order : July 18th, 2018 ORDER Per J. Sudhakar Reddy, AM :-

In this revenue appeal, 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. Hence in terms of the same, this appeal is dismissed as withdrawn.

In the result, appeal of the revenue is dismissed.

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