ASST CIT 10(3)(2), MUMBAI vs. PROCTER & GAMBLE HOME PRODUCTS LTD, MUMBAI

The appeal filed by the revenue is directed against the order dated 18.03.2015, passed by the Ld. CIT (Appeals)-57, Mumbai, for the assessment year 2008-09.

At the outset, the Ld. Counsel for the Assessee submitted that the tax effect in this revenue’s appeal is less than Rs.10 lakhs and therefore in view of CBDT Circular No. 21/2015 dated 10.12.2015, the appeal is not maintainable. A statement showing the working of tax effect is also furnished before us. The Ld. DR fairly submits that the tax effect is less than Rs.10 lakhs.

We found that as per the recent Circular No.21/2015, dated 10.12.2015, issued by the CBDT, the monetary limit has been revised for filing of appeal before ITAT by the revenue fixing the tax effect limit of Rs.10 lakhs. In the instant case, the tax effect is below Rs.10 lakhs, therefore the appeal of the revenue is not maintainable and liable to be dismissed in limine. This Circular is retrospective and applicable to the pending appeals also.

In the result, appeal of revenue is dismissed.