What did the Tribunal hold?

Following the mandate of CBDT Circular No. 3/2018, the Tribunal decided that all the revenue appeals and the accompanying cross-objections should be dismissed as withdrawn.

The Income Tax Appellate Tribunal (ITAT) was hearing multiple appeals filed by the Revenue. A common undisputed fact across all these appeals was that the tax effect did not exceed the monetary limit of Rs. 20,00,000/- as per CBDT Circular No. 3/2018.

What were the issues?

The primary issue was whether the appeals should be dismissed based on the monetary limit prescribed by the CBDT for filing appeals.

DCIT vs M/S. Ai Champdany Industries Ltd | ITAT Kolkata 2018

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

Before: Sri J. Sudhakar Reddy

Heard together (2 matters)

C.O. No. 121/Kol/2017

C.O. No. 122/Kol/2017

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

Date of concluding the hearing : July 30th, 2018 Date of pronouncing the order : July 30th, 2018 ORDER Per J. Sudhakar Reddy, AM :-

In all these revenue appeals, the undisputed fact is that the tax effect does not exceed the monetary limit of Rs.20,00,000/-, fixed by the CBDT Circular No.3/2018, F. NO. 279/Misc. 142/2007-ITJ (Pt), dt. 11th July, 2018. As mandated by this above referred Circular No. 3/2018, all these appeals are dismissed as withdrawn. The Cross Objections in C.O. No. 121/Kol/2017 & C.O. No. 122/Kol/2017, are in support of the revenue appeals and are dismissed as such.

In the result, all these appeals of the revenue as well as the Cross objections are dismissed.

Kolkata, the 30th day of July, 2018. Sd/- [J. Sudhakar Reddy] Accountant Member Dated : 30.07.2018 {SC SPS} Copy of the order forwarded to: 1. Deputy Commissioner of Income Tax, Circle-1(1), Kolkata M/s. AI Champdany Industries Ltd 25, Princep Street Kolkata – 700 072 Assistant Commissioner of Income Tax, Circle-1(1), Kolkata Shri Himadri Mallick 114/3, Rajan Mukherjee Lane Kolkata – 700 038 Joint Commissioner of Income Tax (OSD), Circle-13(1), Kolkata M/s. Akar Estate & Finance Pvt. Furutre Group Zonal Office 4th Floor Home Town Building Rajarhat Kolkata – 700 156 Income Tax Officer, Ward-36(2), Kolkata M/s. Sureka Enterprises 2nd Floor 19, Pollock Street Kolkata – 700 001 Income Tax Officer, Ward-36(2), Kolkata M/s. Sureka Engineering Indust 2nd Floor 19, Pollock Street Kolkata – 700 001

CIT(A)- 4. CIT- , 5. CIT(DR), Kolkata Benches, Kolkata.

DCIT, CIRCLE-1(1), KOLKATA, KOLKATA vs. M/S. AI CHAMPDANY INDUSTRIES LTD, KOLKATA

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