I.T.O., WARD-5(1), KOLKATA, KOLKATA vs. M/S GUINESS PORTFOLIO MANAGEMENT SERVICES PVT. LTD., KOLKATA

PDF · subscribers
ITA 2106/KOL/2016Status: DisposedITAT Kolkata30 July 2018AY 2003-047 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the appeals filed by the Revenue, having a tax effect below the revised monetary limit, were to be treated as withdrawn or not pressed. Consequently, the appeals and the related cross-objections were dismissed.

What were the facts?

The Revenue filed 22 appeals before the Income Tax Appellate Tribunal. All these appeals involved a tax effect of less than Rs. 20 Lacs. The CBDT had issued a circular revising the monetary limit for filing appeals by the Revenue to Rs. 20 Lacs.

What were the issues?

The primary issue was whether appeals filed by the Revenue with a tax effect below the revised monetary limit stipulated by CBDT Circular No. 3/2018 should be dismissed.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA BENCH “D”, KOLKATA

Before: SH. P.M.JAGTAP & SH. S.S. VISWANETHRA RAVI

Hearing: 30.07.2018Pronounced: 30.07.2018

Heard together (2 matters)

C.O.89/KOL/2017
ITA No.1538/KOL/2017

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

PER BENCH It is noted that each of these 22 appeals filed by the Revenue individually involves tax effect of less than Rs.20 Lacs and this position is not disputed even by Ld.DR. The CBDT vide its recent Circular No.3/2018 issued on 11.07.2018 has revised the monetary limit for filing the appeals of the Revenue before the Tribunal to Rs.20 Lacs. As clarified in the said Circular, the revised monetary limit of Rs.20 Lacs for filing the Revenue’s appeals before the ITAT would apply to the appeals already filed by the Revenue which are pending before the Tribunal and the same are liable to be dismissed as withdrawn/not pressed. We accordingly treat these appeals of the Revenue involving the tax effect of less than Rs.20 Lacs as withdrawn/not pressed keeping in view the Circular No.3/2018 (supra) issued by CBDT and dismiss the same.

2.

As a result of dismissal of the Revenue’s appeal on account of low tax effect, the corresponding 02 cross-objections filed by the assessee have become infructuous and the same are also liable to be dismissed accordingly.

3.

In the result, all the 22 appeals of the Revenue and 02 cross- objections filed by the assessee are dismissed.

Order pronounced in the open court on 30.07.2018.

Recent GST High Court judgments

Search GST case law →