DCIT, CIR-9(1), KOLKATA, KOLKATA vs. M/S LUMBINI BEVERAGES PVT. LTD., KOLKATA

This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-18, Kolkata dated 02.12.2015 and in the solitary ground raised therein, the Revenue has challenged the action of the ld. CIT(Appeals) in allowing the claim of the assessee for carry forward of depreciation for assessment year 1998-99 to the extent of Rs.15,52,507/-.

At the time of hearing fixed in this case today, i.e. on 13.12.2017, the ld. counsel for the assessee, at the outset, has pointed out that the tax effect involved in this appeal of the Revenue is less than the monetary limit fixed by the CBDT vide Circular No. 21/2015 dated 10th December, 2015 at Rs.10,00,000/- for filing the appeal by the Revenue before the Assessment Year: 2006-2007 Tribunal and this position clearly evident from the ground raised by the Revenue in this appeal is not disputed even by the ld. D.R. In Circular No. 21/2015 (supra) 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 The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed.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 10.12.2015, which is squarely applicable in the present case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.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 13th day of December, 2017.