ITO 29 (1) (1), MUMBAI vs. ASIAN ANCILLARY CORPORATION, MUMBAI

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ITA 2297/MUM/2016Status: DisposedITAT Mumbai28 December 2016AY 2006-073 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 as the tax effect was below the monetary limit of Rs. 10 lakhs prescribed by CBDT Circular No. 21/2015. The circular is retrospective and applicable to pending appeals.

What were the facts?

The Revenue filed an appeal against the order of the CIT(Appeals) for assessment year 2006-07. The disallowance made by the Assessing Officer was Rs. 1,97,445.

What were the issues?

Maintainability of revenue's appeal before ITAT based on the tax effect limit prescribed by CBDT circular.

Which sections of the Income-tax Act were involved?

Not Applicable

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “G”, MUMBAI

For Appellant: Shri G Nantha Kumar
Hearing: 28/12/2016Pronounced: 28/12/2016

O R D E R

PER CN PRASAD, JM :

1.

The appeal filed by the revenue is directed against the order dated 11.02.2016, passed by the Ld. CIT (Appeals) -40, Mumbai, for the assessment year 2006-07.

At the outset, we have noticed that the tax effect in the appeal of the 2. revenue is below Rs.10 lakhs as the disallowance made is only Rs.1,97,445 /-while determining the income of the Assessee. Therefore, the same is not maintainable as per the CBDT Circular No. 21/2015 dated 10.12.2015. 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 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 same is not maintainable and liable to be dismissed in limine. This Circular is retrospective and applicable to the pending appeals also.

3.

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.

4.

In the result, appeal of revenue is dismissed.

Order has been pronounced in the Open Court on 28.12.2016.

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