DCIT CC 1(1), MUMBAI, MUMBAI vs. OLIVE BUILDERS AND DEVELOPERS PVT. LTD. , VASHI

ITA 2397/MUM/2024Status: HeardITAT Mumbai08 October 2024AY 2018-19Bench: SHRI NARENDRA KUMAR BILLAIYA, HON'BLE (Accountant Member), SHRI RAJ KUMAR CHAUHAN, HON'BLE (Judicial Member)1 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 appeals are dismissed in light of Circular No. 09/2024, dated 17th September, 2024, which guides dismissal of appeals with tax effect below a certain threshold.

What were the facts?

The revenue preferred two appeals against separate orders passed by the CIT(A)-47, Mumbai, for Assessment Years 2014-15 and 2018-19. The tax effect involved in both appeals was less than Rs. 60,00,000.

What were the issues?

Whether the appeals filed by the revenue should be dismissed due to low tax effect, as per the CBDT circular.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: SHRI NARENDRA KUMAR BILLAIYA, HON’BLE & SHRI RAJ KUMAR CHAUHAN, HON’BLE

For Appellant: Shri Dharan Gandhi, Advocate

Hearing: 08/10/2024Pronounced: 08/10/2024

Heard together (2 matters)

I.T.A. No. 2391/Mum/2024

I.T.A. No. 2397/Mum/2024

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

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/-.

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