ASST CIT 31(1), MUMBAI vs. DIAMOND TOOLS INDUSTRIES, MUMBAI

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ITA 6939/MUM/2016Status: DisposedITAT Mumbai05 May 2017AY 2009-102 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 dismissed the Revenue's appeal in limine. This was based on CBDT Circular No. 21 of 2015, which precludes the Revenue from pursuing appeals with a tax effect below ₹10 lakhs.

What were the facts?

The Revenue appealed an order of the CIT(A) regarding a deduction claimed by the assessee under Section 80IB. The tax effect involved in the appeal was less than ₹10 lakhs.

What were the issues?

Whether the Revenue is precluded from pursuing an appeal due to a low tax effect, as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 80IB

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “SMC” Bench, Mumbai

Before: Shri B.R. Baskaran (AM)

For Appellant: Shri Sashi Tulsiyan
Hearing: 3.5.2017Pronounced: 3.5.2017

The Revenue has filed this appeal challenging the order dated 31.8.2016 passed by the learned CIT(A)-42, Mumbai and it relates to A.Y. 2009-10.

2.

At the time of hearing learned AR submitted that the only issue disputed by the Revenue relates to deduction claimed by the assessee u/s. 80IB of the Act to the tune of ` 3,81,891/-. He submitted that the tax effect involved in this appeal is less than ` 10 lakhs and hence, in view of the Circular No. 21 of 2015 dated 10.12.2015 issued by CBDT, the Revenue is precluded from pursuing this appeal.

3.

Learned Departmental Representative did not dispute this factual aspect. Accordingly, I dismiss this appeal filed by the Revenue in limine as the tax effect involved in this appeal is less than ` 10 lakhs and the Revenue is precluded from pursuing this appeal as per Circular referred above.

4.

In the result, appeal filed by the Revenue is dismissed.

Order has been pronounced in the Court on 3.5.2017.

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