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Income Tax Appellate Tribunal, MUMBAI BENCH “B”, MUMBAI
Before: SHRI MAHAVIR SINGH & SHRI ASHWANI TANEJA
Date of hearing : 28-02-2017 Date of pronouncement : 28-02-2017 O R D E R Per Ashwani Taneja, AM :- This appeal filed by the revenue and the crosss objection filed by the assessee are directed against the order passed by the Commissioner of Income-tax (Appeals)-
C.O. No. 58/Mum/2012 29, Mumbai [hereinafter called CIT(A)] dated 30-09-2010 passed against the order u/s 143(3) of the Act dated 19/12/2008 for AY. 2006-07. 2. The revenue raised the following grounds of appeal:-
“The order of the CIT(A) is opposed to law and facts of 1) the case. ii) On the facts and circumstances of the case and in law, the Ld.CIT(A) erred in holding that the amount of Rs. 12,19,3561- is Short Term Capital Gain of the Assessee without appreciating the fact that the nature of the activities of the assessee during the relevant previous year is trading in shares and therefore, the income arising to her was business income.”
During the course of hearing it was jointly stated by both the parties that tax effect involved in the appeal filed by the revenue is less than Rs.10 lakhs. Therefore, appeal filed by the revenue is not maintainable in view of the circular issued by the CBDT No.21 of 2015 dated 10-12-2015.
We have considered the submissions made by both the parties and find that the appeal filed by the revenue is not maintainable in view of the aforesaid circular issued by CBDT. Therefore, the appeal is dismissed as such.
The cross objection filed by the assessee is not pressed; hence, the same is also dismissed.