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Income Tax Appellate Tribunal, MUMBAI BENCH “I”, MUMBAI
O R D E R
PER CN PRASAD, JM :
The appeal filed by the revenue is directed against the order dated 07.11.2014, passed by the Ld. CIT (Appeals) -25, Mumbai, for the assessment year 2010-11.
At the outset, the Ld DR admitted that the tax effect in the appeal of 2. the revenue is below Rs.10 lakhs and therefore, the same is not maintainable as per the CBDT Circular No. 21/2015 dated 10.12.2015. None appeared on behalf of the assessee.
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 M/s Suleshwari Trust ITAT by the revenue fixing the tax effect limit at Rs.10 lakhs. In the instant case, the tax effect is below Rs.10 lakhs, therefore the same is not maintainable and liable to be dismissed in limine. It is further clarified in this Circular that it is retrospective and applicable to the pending appeals also.
Considering the above CBDT Circular, we found that this appeal of the revenue is not maintainable as the tax effect in this appeal is below Rs.10 lakhs. Accordingly, we dismiss the appeal of the revenue.
In the result, appeal of revenue is dismissed.
Order has been pronounced in the Open Court on 30.01.2017.