ITO 32(3)(3), MUMBAI vs. SAMIT RANJIT JAIN, MUMBAI

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ITA 4666/MUM/2015Status: DisposedITAT Mumbai31 August 2016AY 2010-113 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 noted that the tax effect was below the monetary limit of Rs. 10 lakh as per CBDT instructions. Therefore, the appeal filed by the Revenue was not maintainable.

What were the facts?

The Revenue filed an appeal before the ITAT. The assessee contended that the tax effect of the appeal was below the prescribed monetary limit for filing an appeal before the Tribunal.

What were the issues?

Whether the appeal filed by the Revenue is maintainable before the ITAT given the tax effect is below the prescribed monetary limit.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCHES “SMC”, MUMBAI

Before: Shri Joginder Singh,

For Respondent: Shri A. Rajhans -DR, Shri Milin Dattani &
Hearing: 30/08/2016

आदेश / O R D E R The Revenue is aggrieved by the impugned order dated 16/06/2015 of the Ld. First Appellate Authority, Mumbai.

2.

During hearing of this appeal, at the outset, Shri Milin Dattani along with Tejaswini Ghag, ld. counsel for the assessee, contended that in the present appeal, the total addition is Rs.26,55,029/- and consequential tax effect comes to Rs.9,46,211/-, which is below prescribed monetary limit of Rs.10 lakh for filing the appeal before this Tribunal. The ld. DR, Shri A. Rajhans, did not controvert the factual matrix.

1.

2.1. I have considered the rival submissions and perused the material available on record. In view of the above, it is noted that the tax effect in the present appeal is below prescribed limit of Rs.10 lakh for filing the appeal before the Tribunal, as contained in CBDT instruction No.21 of 2015, dated 10/12/2015 (F No.279/Misc./142/2007-IT(PT), applicable with retrospective effect, wherein, the Department was advised/directed by the Board not to file appeal in the cases where the tax effect does not exceed the following monetary limit.:-

Sl. Appeals in Income –tax matters Monetary Limit (in Rs.) No.

1.

Before ITAT 10,00,000/- 2. U/s 260 A before Hon’ble High 20,00,000/- Court 3. Before Hon’ble Supreme Court 25,00,000/- In view of the above instruction, since, the tax effect is less than Rs.10,00,000/-, consequently, the appeal of the Revenue is not maintainable, therefore, dismissed. Finally, the appeal of the Revenue is dismissed as not maintainable. This order was pronounced in the open in the presence of ld. representatives from both sides at the conclusion of the hearing on 30/08/2015.

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