ACIT,CEN. CIR-VI, KOLKATA, KOLKATA vs. SRI BINIT AGARWAL, KOLKATA

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ITA 145/KOL/2014Status: DisposedITAT Kolkata29 March 2017AY 2010-20112 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 of the revenue deserved to be dismissed in terms of the low tax effect limit prescribed by CBDT Circular No. 21/2015. The circular applies retrospectively to pending appeals and is binding on tax authorities.

What were the facts?

The assessee filed an appeal against the order of the CIT(A). The quantum of addition in dispute was Rs. 10,97,890/-, with a tax effect less than Rs. 10 lacs.

What were the issues?

Whether the revenue's appeal should be dismissed in limine due to low tax effect as per CBDT Circular No. 21/2015.

Which sections of the Income-tax Act were involved?

Not Applicable

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(1)Show list

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Income Tax Appellate Tribunal, “B” BENCH: KOLKATA

Before: Shri A. T. Varkey, JM & Shri Waseem Ahmed, AM]

Hearing: 07.02.2017Pronounced: 29.03.2017

This is an appeal filed by the assessee against the order of Ld. CIT(A), Central-1 Kolkata dated 01.11.2013.

2.

At the time of hearing, it is seen that the quantum involved in this case is Rs.10,97,890/- and tax effect on the disputed addition before us , which is less than Rs. 10 lacs.

3.

After perusing the materials available on record, we find that the additions disputed before us is below the tax effect limit prescribed by CBDT vide Circular No. 21 / 2015 dated 10.12.2015 for preferring appeals before tribunal by the revenue. On perusal of the Circular No. 21 / 2015 dated 10.12.2015 and the materials available on record, Ld. DR could not point out whether this case falls under any of the exception as provided in the circular despite specific opportunity was given, does not fall under any of the exceptions contemplated in the said Circular, as this is covered. We also find 2 45/Kol/2014 Binit Agarwal, AY 2010-11 that the Circular makes it very clear that the revised monetary limits shall apply retrospectively to pending appeals also. We find that the Circular is binding on the tax authorities. This position has been confirmed by the Hon’ble Apex Court in the case of Commissioner of Customs vs Indian Oil Corporation Ltd reported in 267 ITR 272 (SC). Hence, we hold that the appeal of the revenue deserves to be dismissed in terms of low tax effect vide Circular No.21 / 2015 dated 10.12.2015. Accordingly, this being a low tax effect case, we dismiss this appeal of revenue in limine, as unadmitted, without going into the merits of the case.

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