JCIT (OSD), CHENNAI vs. CRESCENT MARINE VENTURES LTD., CHENNAI

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ITA 1182/CHNY/2016Status: DisposedITAT Chennai14 July 2016AY 2002-032 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 Revenue authorities are precluded from filing and prosecuting appeals before the Tribunal if the tax effect is below the prescribed monetary limit. Consequently, the appeal was dismissed as un-admitted.

What were the facts?

The Revenue filed an appeal before the Income Tax Appellate Tribunal (ITAT) against an order for the assessment year 2002-2003. Both parties agreed that the tax effect in the appeal was below the monetary limit set by the CBDT for filing appeals.

What were the issues?

Whether the Revenue's appeal should be admitted given the tax effect is below the CBDT's monetary limit for appeals.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 147,Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, CHENNAI

Before: SHRI A.MOHAN ALANKAMONY & SHRI. G. PAVAN KUMAR

For Respondent: Shri. Venkatachalam, CA

आदेश / O R D E R PER G. PAVAN KUMAR, JUDICIAL MEMBER:

1.

The appeal filed by the Revenue is directed against order of the Commissioner of Income-tax (Appeals)-1, Chennai in ITA No. 666/08- 09, dated 18.02.2016 for the assessment year 2002-2003 passed u/s.143(3) r.w.s. 147 and 250 of the Income Tax Act, 1961 (herein after referred to as ‘the Act’). . :- 2 -: 2. At the time of hearing, both the parties fairly conceded that Tax effect in this appeal is less than monetary limit of � 10,00,000/- fixed by the CBDT to file an appeal by the Revenue before the Tribunal as per the CBDT Circular No.21/2015, Dated 10th December, 2015 and the Revenue authorities are precluded from filing and prosecuting the appeal before the Tribunal. Accordingly, Revenue appeal is dismissed as un-admitted.

3.

In the result, the appeal of the Revenue is dismissed.

Order pronounced on Thursday, the 14th day of July, 2016 at Chennai.

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