ACIT 14(2)(1), MUMBAI vs. IDFC PROJECTS EQUITY CO.LTD, MUMBAI

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ITA 167/MUM/2015Status: DisposedITAT Mumbai17 August 2016AY 2010-112 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. Therefore, the appeal was not maintainable.

What were the facts?

The Assessing Officer filed an appeal with the Income Tax Appellate Tribunal. The tax effect involved in the appeal was Rs. 9,47,187/-, which was below the monetary limit prescribed by the CBDT.

What were the issues?

The primary issue was whether the appeal filed by the Revenue was maintainable given the tax effect was below the CBDT's monetary limit.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “I”, BENCH MUMBAI

Before: SHRI D.KARUNAKARA RAO, AM & SHRI AMARJIT SINGH, JM

For Appellant: Shri Hirali Desai (AR)
For Respondent: Shri Prakash Pathade (DR), Shri Hirali Desai (AR)
Hearing: 17/08/2016Pronounced: 17/08/2016

PER D.KARUNAKARA RAI, AM: The above appeal is filed by the Assessing Officer (AO) raising two Grounds of appeal for the assessment years mentioned above. The tax effect involved in the above referred case is Rs. 9,47,187/- which is below the monetary limit (Rs. 10,00,000/-) prescribed by the Central Board of Director Taxes(CBDT), vide its Circular No.21/2015(F.No.142/2007-ITJ (Pt.) dated 10th December, 2015. 2. Shri Hirali Desai appeared on behalf of the assessee. The Departmental Representative (DR) on a query by the Bench fairly conceded that the tax effect involved in the above case was less than Rs. 10.00 lacs. Considering these facts, we dismiss the appeal holding them as not maintainable.

3.

In the result, appeal of the Revenue is dismissed. Order pronounced in the open court on 17/08/2016. (AMARJIT SINGH) ACCOUNTANT MEMBER Mumbai; Dated : 17/08/2016 SK, PS Copy of the Order forwarded to : 1. अपीलाथ" / The Appellant

2.

""यथ" / The Respondent. 3. आयकर आयु"त(अपील) / The CIT(A), Mumbai. 4. आयकर आयु"त / CIT "वभागीय ""त"न"ध, आयकर अपील"य अ"धकरण, मुंबई / DR, ITAT, Mumbai 5. 6. गाड" फाईल / Guard file. आदेशानुसार/ BY ORDER,

उप/सहायक पंजीकार (Asstt.

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