DCIT-1(1)(1), MUMBAI, MUMBAI. vs. ARENJA INDUSTRIES PVT. LTD., MUMBAI

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ITA 221/MUM/2024Status: DisposedITAT Mumbai25 July 2024AY 2010-111 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 Tribunal held that the revenue's appeal is not maintainable in view of CBDT Circular 17/2019, which directs withdrawal of appeals if the tax effect is below Rs. 50,00,000/-. The tax effect in this case was Rs. 48,94,560/-, and the circular is binding on revenue authorities.

What were the facts?

The revenue filed an appeal and the assessee filed a cross-objection against the order of the CIT(A) for Assessment Year 2010-11. Both parties agreed that the revenue's appeal should be dismissed as not maintainable.

What were the issues?

Whether the revenue appeal is maintainable in light of the CBDT circular regarding monetary limits for appeals.

Which sections of the Income-tax Act were involved?

Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “A”, MUMBAI

Before: SHRIAMARJIT SINGH & SHRI ANIKESH BANERJEE

For Appellant: Shri Rahul Hakani
For Respondent: Shri Manoj Kumar Sinha(CIT DR)
Hearing: 16/07/2024

The instant appeal of the revenue and cross objection by the assessee were filed against the order of theLearned Commissioner of Income-tax (Appeal)-51, Mumbai [for brevity, ‘Ld.CIT(A)’] passed under section 250 of the Income-tax Act, 1961 (in short, ‘the Act’), for Assessment Year 2010-11, date of order 07.11.2023.The impugned order was emanated from the order of the ld.Income- tax Officer1(1)(3),Mumbai (in short, ‘the A.O.’) passed under section 143(3)r.w.s. 147of the Act, date of order31/03/2016.

2.

Both the parties before us mutually agreed that this revenue appeal is to be dismissed as not maintainable in view of the Circular issued by the CBDT Circular 17/2019 dated 08/08/2019, F.No.279/Misc. 142/2007-ITJ(Pt.) wherein the revenue has been directed to withdraw the appeal preferred by it before the Tribunal if the tax effect on the disputed issues is less than or equal to Rs.50,00,000/-.The ld. AR submitted the tax effect amount Rs. 48,94,560/- for impugned assessment year. It is well settled that this Circular is binding on the revenue authorities.

3.

Respectfully following the said Circular, the appeal filed by the revenue is dismissed as not maintainable.

4.

Incase, if the revenue is able to provide evidence that the case falls under any of the exceptions provided in the circular issued by the CBDT, then the revenue may prefer miscellaneous application for recalling of this order, if they so desire, in which circumstance, this order shall be recalled by this Tribunal.

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