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Facts
These appeals by the revenue are against separate orders passed by the CIT(A)-47, Mumbai, for Assessment Years 2014-15 and 2018-19. The tax effect in both appeals is less than Rs. 60,00,000/-, which is below the monetary limit for appeals.
Held
The appeals by the revenue are dismissed in light of Circular No. 09/2024, dated 17th September 2024, which pertains to the monetary limits for filing appeals. The circular mandates that appeals with a low tax effect may be dismissed.
Key Issues
Whether appeals with a tax effect below the prescribed monetary limit, as per the relevant circular, should be dismissed.
Sections Cited
Circular No. 09/2024
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Income Tax Appellate Tribunal, “C” BENCH, MUMBAI
Before: SHRI NARENDRA KUMAR BILLAIYA, HON’BLE & SHRI RAJ KUMAR CHAUHAN, HON’BLE
Assessee by : Shri Dharan Gandhi, Advocate Revenue by : Mr. R.A. Dhyani, CIT, D/R सुनवाई की तारीख/Date of Hearing : 08/10/2024 घोषणा की तारीख /Date of Pronouncement: 08/10/2024 आदेश/O R D E R PER NARENDRA KUMAR BILLAIYA, AM: Both these appeals by revenue are preferred against the separate orders passed by the ld. CIT(A)-47, Mumbai, even dated 29/02/2024 pertaining to AYs 2014-15 & 2018-19.
A perusal of the grounds taken by the revenue show that the tax effect involved in both these appeals are less than Rs.60,00,000/-.