ACIT INTERNATIONAL TAXATION 3 2 1 MUMBAI, INCOME TAX DEPARTMENT MUMBAI vs. MCKINSEY AND COMPANY LME LIMITED, MUMBAI

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ITA 1817/MUM/2024Status: DisposedITAT Mumbai18 July 2024AY 2019-20Bench: 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 Tribunal noted that the tax effect in the appeal was Rs.45,13,516/-. Following CBDT Circular No. 17/2019 dated 08/08/2019, the Tribunal held that the appeal by the revenue had to be dismissed.

What were the facts?

The revenue filed an appeal against the order dated 24/01/2024 passed by the CIT(A)-57, Mumbai, for Assessment Year 2021-22. The tax effect involved in the appeal was Rs.45,13,516/-.

What were the issues?

Whether the appeal filed by the revenue is to be dismissed in light of CBDT Circular No. 17/2019 due to the tax effect involved.

Which sections of the Income-tax Act were involved?

IT Act sections

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “I” BENCH, MUMBAI

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

For Appellant: Shri Porus Kaka/Divesh Chawla, A/Rs
Hearing: 18/07/2024Pronounced: 18/07/2024

PER NARENDRA KUMAR BILLAIYA, AM: This appeal by revenue is preferred against the order dated 24/01/2024 by ld. CIT(A)-57, Mumbai, pertaining to AY 2021-22. 2. A perusal of the grounds taken by the revenue shows that the tax effect involved in this appeal is Rs.45,13,516/-. Therefore, this appeal by the revenue has to be dismissed in light of the CBDT Circular No. 17/2019 dated 08/08/2019. I.T.A. No. 1817/Mum/2024 2

3.

In the result, appeal of the revenue is dismissed. Order pronounced in the Court on 18th July, 2024 at Mumbai. (RAJ KUMAR CHAUHAN) ACCOUNTANT MEMBER Mumbai, Dated 18/07/2024 *SC SrPs *SC SrPs *SC SrPs *SC SrPs

आदेश की "ितिलिप अ"ेिषत/Copy of the Order forwarded to : अपीलाथ" / The Appellant

1.

""थ" / The Respondent 2. संबंिधत आयकर आयु" / Concerned Pr. CIT 3. आयकर आयु" अपील

4.

( ) / The CIT(A)- िवभागीय "ितिनिध ,आयकर अपीलीय अिधकरण, मुंबई /DR,ITAT, Mumbai, 5. गाड" फाई/ Guard file. 6. आदेशानुसार/ BY ORDER,

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