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Income Tax Appellate Tribunal, MUMBAI BENCH “C”, MUMBAI
Before: SHRI AMIT SHUKLA & SHRI MANOJ K AGGARWAL
आदेश ORDER PER BENCH: The aforesaid appeal and cross objection has been filed by the revenue as well as by the assessee against impugned order dated 13.11.2013, passed by Ld. CIT(Appeals)-25,
2 पंकज बी शाह Pankaj B Shah ITA 715/Mum/2014 CO No. 59/Mum/2015 Mumbai for the quantum of assessment passed under section 143(3) r.w.s. 147 for the assessment year 2003-04.
At the outset, both the parties admitted that, the disputed addition is of only Rs.13,75,997/- on which the tax effect is much below the prescribed monitory limit Rs. 10 lakhs.
Now in the wake of CBDT’s Circular No. 21 of 2015 dated 10.12.2015, the monetary limit prescribed for filing of appeal before the Tribunal is Rs. 10 lakhs. Further it has also been clarified that this circular will apply on pending appeals also which is evident from para 10 of the impugned Circular, which reads as under:- “10. This instruction will apply retrospectively to pending appeals to be filed henceforth in High Courts/Tribunals. Pending appeals below the specified tax limits in para 3 above may be withdrawn/not pressed. Appeals before the Supreme Court will be governed by the instructions on this subject, operative at the time when such appeal was filed”.
Thus, the appeal of the revenue is treated as dismissed as non-maintainable.
In the result, appeal of the revenue stands dismissed.
As regard the Cross Objections filed by the assessee, the Ld. Counsel before us at the time of hearing submitted that Cross Objections filed by the assessee are being not pressed. Accordingly, the C.O. filed by the assessee is dismissed as not pressed.
3 पंकज बी शाह Pankaj B Shah ITA 715/Mum/2014 CO No. 59/Mum/2015
In the result, appeals of the revenue as well as Cross Objection of the assessee are dismissed.