Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, KOLKATA BENCH (D
Before: Shri P.M. Jagtap, AM & Shri S.S. Viswanethra Ravi, JM]
order
: April 10, 2018 ORDER
PER P.M. JAGTAP, AM
This appeal is preferred by the revenue against the order of Ld. CIT(Appeals) – 10, Kolkata dated 04.01.2017 and in the solitary ground raised therein, the revenue has challenged the action of the Ld. CIT(A) in deleting the addition of Rs. 2,13,510/- made by the A.O. on account of accrued interest income in violation of Rule 46A of the Income Tax Rules.
As submitted by the learned counsel for the assessee at the outset, the tax effect involved in this appeal of the revenue is less than monetary limit of Rs. 10,00,000/- fixed by the CBDT for filing the appeal by the revenue before the Tribunal and this position clearly evident from the ground raised by the revenue in this appeal is not disputed even by the learned DR. In Circular No. 21/2015 (supra)
Assessment Year: 2011-12 Shri Laxmipat Surana issued by the CBDT, the monetary limit for filing the appeals by the revenue before the Tribunal has been increased to Rs. 10,00,000/- and as clarified in the said Circular, the said monetary limit is applicable retrospectively even to the appeals pending before the Tribunal. The CBDT has also instructed that such pending appeals below this specified tax limit of Rs. 10,00,000/- may be withdrawn / not pressed. Keeping in view the instruction given by the CBDT vide Circular No. 21/2015 dated 10.012.2015, which is squarely applicable in the present case, the appeal filed by the revenue in this case is treated as withdrawn / not pressed and dismissed accordingly.
In the result, the appeal of the revenue is dismissed. Order Pronounced in the Open Court on 10th April, 2018.