ASST CIT CIR 4(2), MUMBAI vs. MEHTA EQUITIES LTD, MUMBAI

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ITA 1792/MUM/2011Status: DisposedITAT Mumbai26 August 2016AY 2007-081 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 prescribed monetary limit. The Departmental Representative conceded this fact.

What were the facts?

The Assessing Officer (AO) filed an appeal before the ITAT. The tax effect involved in the appeal was found to be below the monetary limit prescribed by the CBDT.

What were the issues?

Whether an appeal filed by the AO is maintainable when the tax effect is below the prescribed monetary limit set by the CBDT.

Which sections of the Income-tax Act were involved?

Section 254(1)

AI-generated summary — verify with the full judgment below

अिधकरण “ जी जी” "यायपीठ जी जी आयकर अपीलीय आयकर अपीलीय अिधकरण "यायपीठ मुंबई मुंबई म"। म"। आयकर आयकर अपीलीय अपीलीय अिधकरण अिधकरण "यायपीठ "यायपीठ मुंबई मुंबई म"। म"। IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI सव"ी राजे"", लेखा सद"य एवं रामलाल नेगी "याियक सद"य Before Shri Rajendra, A.M. and Shri Ramlal Negi, J.M. आयकर अपील सं./I.T.A. No.1792/Mum/2011,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2007-08 िनधा"रण िनधा"रण वष" वष" ACIT, Circle-4(2) M/s.Mehta Equities Ltd. Mumbai-400 020. Mumbai-400001. PAN: AAACR4143C Revenue by: Shri O.P. Meena-DR Assessee by: None सुनवाई क" तारीख / Date of Hearing: 26.08.2016 घोषणा क" तारीख / Date of Pronouncement: 26.08.2016 आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order u/s.254(1)of the Income-tax Act,1961(Act) लेखाकार सद"य सद"य राजे"" राजे"" केकेकेके अनुसार अनुसार PER Rajendra,A.M.- लेखाकार लेखाकार लेखाकार सद"य सद"य राजे"" राजे"" अनुसार अनुसार The above appeal was filed by the Assessing Officer(AO)raising five effective grounds of appeal.It was noticed that tax effect involved in the case under consideration was below the monetary limit, (Rs.10,00,000/-),prescribed by the Central Board of Direct Taxes (CBDT), vide its Circular No. 21/2015(F.No.279/Misc. 142/2007-ITJ (Pt.) dated 10th December, 2015. 2.During the course of hearing before us,the Departmental Representative (DR)fairly conceded that the tax involved in the appeal was less than Rs.10.00 lacs.Considering these facts,we dismiss the appeal holding it as not maintainable. As a result,appeal filed by the Assessing Officer stands dismissed. फलतः िनधा"रती अिधकारी "ारा दािखल क" गई अपील नामंजूर क" जाती है. Order pronounced in the open court on 26th August, 2016. आदेश क" घोषणा खुले "यायालय म" "दनांक 26 अग"त, 2016 को क" गई । ( रामलाल नेगी/ Ramlal Negi) (राजे"" / RAJENDRA) "याियक सद"य / JUDICIAL MEMBER लेखा लेखा सद"य सद"य / ACCOUNTANT MEMBER लेखा लेखा सद"य सद"य मुंबई Mumbai; "दनांकDated : 26.08.2016. Jv.Sr.PS. आदेश क" क" "ितिलिप "ितिलिप अ"ेिषत अ"ेिषत/Copy of the Order forwarded to : आदेश आदेश आदेश क" क" "ितिलिप "ितिलिप अ"ेिषत अ"ेिषत 1.Appellant /अपीलाथ"

2.

Respondent /""यथ" 3.The concerned CIT(A)/संब" अपीलीय आयकर आयु", 4.The concerned CIT /संब" आयकर आयु" 5.DR “G ” Bench, ITAT, Mumbai /िवभागीय "ितिनिध, खंडपीठ,आ.अ."याया.मुंबई 6.Guard File/गाड" फाईल स"यािपत "ित //// आदेशानुसार/ BY ORDER, उप/सहायक पंजीकार Dy./Asst.

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