ACIT -7(2)(1), MUMBAI vs. MALHAR FASHION INDIA PVT. LTD., MUMBAI

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ITA 3070/MUM/2016Status: DisposedITAT Mumbai11 April 2017AY 2010-113 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 held that the appeal was not maintainable due to the low tax effect, as per the applicable CBDT circular. The appeal was dismissed as not pressed.

What were the facts?

The Revenue filed an appeal before the ITAT. The tax effect in the appeal was less than Rs. 10 lacs. The Revenue's representative submitted that the appeal was not maintainable as per CBDT Circular No. 21/2015.

What were the issues?

Whether an appeal filed by the Revenue is maintainable before the ITAT when the tax effect is below the monetary limit specified by the CBDT circular.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, MUMBAI

Before: SHRI MAHAVIR SINGH & SHRI RAMIT KOCHAR

Revenue by Mr. B.SATYANARAYAN RAJU, DR Assessee by : None सुनवाई क" तार"ख /Date of Hearing : 11-04-2017 घोषणा क" तार"ख /Date of Pronouncement : 11-04-2017 आदेश / O R D E R PER RAMIT KOCHAR,ACCOUNTANT MEMBER :

This appeal filed by the Revenue is disposed of because the tax effect in the appeal is less than Rs. 10 lacs as per the latest CBDT Circular No. 21/2015, F. No. 279/Misc.142/2007-ITJ (Pt) dated 10th December, 2015 issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India.

2.

The ld. D.R. submitted that tax effect involved in this appeal is less than Rs. 10 lacs and the CBDT Circular No. 21/2015 is applicable to this appeal and the appeal is not maintainable/not pressed in terms of CBDT circular no 21/2015 dated 10/12/2015. The ld. DR submitted that as per ITA 3070/Mum/2016 2 the latest CBDT Circular No. 21/2015, F. No. 279/Misc.142/2007-ITJ (Pt) dated 10th December, 2015 issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, no appeal shall be filed by the Revenue in respect of an assessment year or years in which the tax effect is less than the monetary limit specified in para 3 of the circular .

Para 3 of the Circular No. 21/2015 S No. Appeals in Income tax Monetary Limit matters (in Rs) 1 Before Appellate Tribunal 10,00,000/- 2 Before High Court 20,00,000/- 3 Before Supreme Court 25,00,000/- In the said circular vide para 10, it is stipulated that this instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in High Courts/Tribunals. Pending appeals below the specified tax limits in may be withdrawn/not pressed. The learned AR also submitted that the appeal effect is less than Rs.10 lacs.

3.

Keeping in view the CBDT Circular No. 21/2015 dated 10th December, 2015 which is applicable from retrospective effect and is also applicable to pending appeals and also in view of ld. DR stating before us that this appeal is now not maintainable/not pressed in view of the above CBDT Circular, we hold that this appeal filed by the Revenue which is covered by this order involving tax effect less than Rs. 10 lacs is not maintainable and is dismissed being not pressed. However, the Revenue is at liberty to file an application for recall of this appeal in accordance with law, if the Revenue wants to agitate the matter in accordance with the provisions/clauses as contained in the afore-stated circular. We order accordingly.

ITA 3070/Mum/2016 3

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