ITO 6(1)(3), MUMBAI vs. RADIO COMPONENTS & TRANSISTORS CO. LTD, MUMBAI

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ITA 593/MUM/2014Status: DisposedITAT Mumbai05 July 2016AY 2010-111 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 dismissed the appeal filed by the Revenue. The dismissal was based on the fact that the tax effect was below the prescribed monetary limit for filing appeals.

What were the facts?

The Revenue filed an appeal before the ITAT. The tax effect involved in the appeal was Rs. 5,95,908/-, which was below the monetary limit prescribed by the CBDT.

What were the issues?

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

Which sections of the Income-tax Act were involved?

Section 268A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D”, BENCH MUMBAI

Before: SHRI B.R.BASKARAN, AM & SHRI PAWAN SINGH, JM

For Appellant: Shri Nitesh Joshi
For Respondent: Shri Nitesh Joshi
Hearing: 05/07/2016Pronounced: 05/07/2016

Revenue by : Capt. Prasad S. Arya (Sr. AR) Assessee by : Shri Nitesh Joshi. Date of Hearing : 05/07/2016 Date of Pronouncement: 05/07/2016 O R D E R PER PAWAN SINGH, JM:

The above appeal is filed by the Assessing Officer (AO) raising two grounds of appeal for the assessment year mentioned above. The tax effect involved in the above referred case is only Rs. 5,95,908/- 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 Nitesh Joshi (AR) has 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 u/s. 268A of the Income-tax Act.

3. In the result, appeal of the Revenue is dismissed. Order pronounced in the open court on this 05/07/2016.

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