What did the Tribunal hold?

The Tribunal held that the appeal filed by the Revenue was not maintainable in view of the CBDT circular regarding appeals with a tax effect below Rs. 10 lakhs.

The Revenue filed an appeal before the ITAT against an order of the CIT(A) for the assessment year 2000-01. Both parties agreed that the tax effect was less than Rs. 10 lakhs.

What were the issues?

Maintainability of the Revenue's appeal due to low tax effect as per CBDT circular.

ACIT vs M/S. Chona Financial Services… | ITAT Chennai 2017

Income Tax Appellate Tribunal, ‘B’ BENCH, CHENNAI

Before: SHRI N.R.S. GANESAN & SHRI D.S. SUNDER SINGH

Hearing: 24.04.2017Pronounced: 31.05.2017

आयकर अपीलीय अिधकरण, ‘बी’ �यायपीठ, चे�ई IN THE INCOME TAX APPELLATE TRIBUNAL ‘B’ BENCH, CHENNAI �ी एन.आर.एस. गणेशन, �याियक सद�य एवं �ी िड.एस. सु�दर �संह, लेखा सद�य केसम� BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No. 3039/Mds/2016 िनधा�रण वष� / Assessment Year : 2000-01 The Asst. Commissioner of M/s. Chona Financial Services Pvt. Income Tax, v. Ltd., Corporate Circle 1(2), New No.46, Old No.19, Prakasam Chennai – 600 034 Street, T.Nagar, Chennai – 600 017. PAN:AAACC3031C (अपीलाथ�/Appellant) (��यथ�/Respondent) अपीलाथ� क� ओर से/Appellant by : Dr.B. Nischal, JCIT ��यथ� क� ओर से/Respondent by : Shri Ashit Agarwal, CA सुनवाई क� तारीख/Date of Hearing : 24.04.2017 घोषणा क� तारीख/Date of Pronouncement : 31.05.2017 आदेश आदेश /O R D E R आदेश आदेश PER N.R.S. GANESAN, JUDICIAL MEMBER:

This appeal of the Revenue is directed against the order of the Commissioner of Income Tax (Appeals)-1, Chennai dated 12.08.2016 and pertains to the assessment year 2000-01.

When the appeal is taken for hearing both the Ld. representative for the assessee Shri Ashit Agarwal and the Ld. representative for the Revenue Dr.B. Nischal submitted that the tax effect involved in this appeal is less than Rs.10 lakhs. In view of the latest circular issued by the Central Board of Direct Taxes (CBDT), instructed its officers not to file an appeal before this Tribunal, wherein the tax effect is less than Rs.10 lakhs. This Tribunal is of the considered opinion that the appeal filed by the Revenue is not maintainable. Accordingly the appeal of the Revenue stands dismissed.

In the result, the appeal of the Revenue stands dismissed.

Order pronounced on 31st May, 2017 at Chennai.

ACIT, CHATRAPATTI vs. M/S. CHONA FINANCIAL SERVICES PVT. LTD., CHENNAI

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