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Income Tax Appellate Tribunal, MUMBAI BENCHES “B”, MUMBAI
Before: SHRI B.R.BASKARAN (AM) & SHRI RAM LAL NEGI (JM)
This appeal has been filed by the revenue against order dated 18/07/2011 passed by the Ld CIT(Appeals)-34, Mumbai for the assessment year 2005-06.
The revenue has challenged the impugned order on following effective grounds of appeal:-
1. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition of Rs. 14,99,000/- on account of unexplained credit without appreciating the detailed reasons given by the AO in the assessment order and without considering the fact the assessee failed to explain as to why the said
amount was reflecting as advance receivable, hence taxable in this year.
2. On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the addition made on account of unexplained receipts amounting to Rs. 6,00,000/-ignoring the fact the assessee failed to explain the creditworthiness of person from whom amount received.
At the outset, the Ld. Departmental Representative pointed out that the tax involved in this case does not exceed Rs. 10,00,000/- as the quantum in dispute is Rs. 20,99,000/- only. As per the CBDT Circular No. 21 of 2015, dated 10th December, 2015, new guidelines of monetary limit of filing of appeals by the Department has been issued, whereby the tax effect for filing of appeal before the ITAT has been prescribed as amount exceeding Rs. 10 lakhs. We also find that the issue raised in appeal does not fall under any of the exceptions specified in para 8 of the Circular. Since, it has been specifically clarified that the instruction will apply retrospectively to all the pending appeals, the present appeal filed by the revenue is not maintainable. We, therefore, dismiss the same in limine.
Order pronounced in the open court on 22nd June, 2016