ACIT, CIRCLE-30, KOLKATA, KOLKATA vs. M/S FOTO INDUSTRIES, KOLKATA

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ITA 1788/KOL/2017Status: DisposedITAT Kolkata27 November 2017AY 2014-152 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 CBDT's monetary limit for appeals. Following CBDT Circular No. 21/2015, the Tribunal treated the appeal as withdrawn/not pressed.

What were the facts?

The Revenue filed an appeal against the assessee's order for AY 2014-2015. The tax effect involved in the appeal was below the monetary limit prescribed by the CBDT for filing appeals.

What were the issues?

Whether the Revenue's appeal should be dismissed due to the tax effect being below the prescribed monetary limit for appeals to the Tribunal.

Which sections of the Income-tax Act were involved?

Not Applicable

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘SMC’ BENCH, KOLKATA

Before: Shri P.M. Jagtap

Date of concluding the hearing : November 27, 2017 Date of pronouncing the order : November 27, 2017 O R D E R

This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-8, Kolkata dated 19.05.2017.

2.

At the time of hearing fixed today in this case, none has appeared on behalf of the assessee. The ld. D.R., however, has very fairly 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 Tribunal. In the 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 The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed.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 Assessment Year: 2014-2015 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which is squarely applicable in the present case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.

3.

In the result, the appeal of the Revenue is dismissed. Order pronounced in the open Court on 27th day of November, 2017.

Sd/- (P.M. Jagtap) Accountant Member Kolkata, the 27th day of November, 2017 Copies to : (1) Assistant Commissioner of Income Tax, Circle-30, Kolkata, 2, Gariahat Road (South), Aayakar Bhawan Dakshin, Kolkata-700 068 2) M/s. Foto Industries, 13, Jamir Lane, Gariahat Mall Basement, Kolkata-700 019 (3) CIT(Appeals)-8, Kolkata (4) CIT- , Kolkata (5) The Departmental Representative (6) Guard File TRUE COPY

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