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

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.