ASST. COMMISSIONER OF INCOME TAX - 5(3)(1), MUMBAI, MUMBAI vs. BHARAT KANAIYALAL SHETH, MUMBAI

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ITA 4122/MUM/2023Status: DisposedITAT Mumbai08 May 2024AY 2014-15Bench: SHRI PAVAN KUMAR GADALE (Judicial Member), MS PADMAVATHY S (Accountant 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 was below the threshold specified in CBDT Circular No. 17/2019, which prohibits appeals by the revenue in such cases. This circular is also applicable to pending cases.

What were the facts?

The revenue filed an appeal against the order of the National Faceless Appeal Centre, Delhi. The assessee also filed Cross Objections. During the hearing, it was noted that the tax effect in the appeal was below Rs. 50 lakhs.

What were the issues?

Whether the revenue's appeal is maintainable given the low tax effect as per CBDT Circular No. 17/2019?

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B” BENCH

Before: SHRI PAVAN KUMAR GADALE & MS PADMAVATHY S

Hearing: 06.05.2024Pronounced: 08.05.2024

सुनवाई क� तार�ख/Date of Hearing 06.05.2024 घोषणा क� तार�ख/Date of Pronouncement 08.05.2024 ORDER PER PAVAN KUMAR GADALE, JM:

The revenue has filed the appeal against the order of the National Faceless Appeal Centre, Delhi, (NFAC)/ CIT(A)

&C.O.32/Mum/2024(A.Y.: 2014-15) Bharat Kanaiyalal Sheth, Mumbai passed under section 143(3) r.w.s 147 and u/sec 250 of the Act and the assessee has filed the Cross Objections.

2.

At the time of hearing, it was brought to the knowledge of the bench, that the tax effect in the appeal is below Rs.50 lakhs and is covered by the CBDT Circular No. 17/2019 dated 08.08.2019. The Ld.DR has accepted the low tax effect aspects and applicability of CBDT circular. We find as per the CBDT Circular dated 08.08.2019, no appeal shall be filed by the revenue before the Hon’ble Tribunal where the tax effect is below Rs 50 lakhs. Further the circular of the CBDT is also applicable to the pending cases. Accordingly, we dismiss the revenue appeal on maintainability and low tax effect.

3.

In case, 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. The revenue may prefer miscellaneous application for recalling of this order, if they so desire, in which circumstances, this order shall be recalled by the Hon’ble Tribunal.

4.

Since the revenue appeal is dismissed and the Cross Objections filed by the assessee becomes in fructuous.

&C.O.32/Mum/2024(A.Y.: 2014-15) Bharat Kanaiyalal Sheth, Mumbai 5. In the result, the appeal filed by the revenue and Cross Objections filed by the assesse are dismissed.

Order pronounced in the open court on 08.05.2024.

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