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Income Tax Appellate Tribunal, “B” BENCHMUMBAI
Before: SHRI SHAMIM YAHYA & SHRI PAWAN SINGHDr. Annie Besant Road, Worli,
Date of Hearing : 25/04/2017 Date of Pronouncement: 25 /04/2017 O R D E R PER PAWAN SINGH, JM:
This appeal under Section 253 of Income-tax Act is filed by the Revenue. The revenue has raised on one ground of appeal that ld. CIT(A) erred in deleting the penalty of Rs. 744,535/- levied under Section 271(1)(c) of Income Tax Act. We have seen that the tax effect involve in the appeal is below the monetary limit of Rs.10,00,000/- as prescribed by the Central Board of Direct Taxes(CBDT), vide its Circular No.21/2015(F.No.142/2007-ITJ (Pt.) dated 10th December, 2015.
Shri Hitesh Somaiya (AR) hasappeared on behalf of the assessee. The Departmental Representative (DR) fairly conceded that the tax effect involved in the present case is less than 10.00 lacs. Considering these facts, we dismiss the appeal holding them as not maintainable u/s. 268A of the Income-tax Act.
In the result, appeal of the Revenue is dismissed. Order pronounced in the open court on this 25/04/2017.