What did the Tribunal hold?

The Tribunal held that the appeal was not maintainable due to the low tax effect, as per the applicable CBDT circular. The appeal was dismissed as not pressed.

The Revenue filed an appeal before the ITAT. The tax effect in the appeal was less than Rs. 10 lacs. The Revenue's counsel submitted that the appeal was not maintainable as per CBDT Circular No. 21/2015.

What were the issues?

The primary issue was the maintainability of the appeal before the ITAT given the tax effect and the applicability of CBDT Circular No. 21/2015.

ITO vs Leopard Investments Ltd | ITAT Mumbai 2016

Income Tax Appellate Tribunal, “A” BENCH, MUMBAI

Before: SHRI MAHAVIR SINGH & SHRI RAMIT KOCHAR

Revenue by Mr. S.C.Tiwari. DR Assessee by : Ms. Faran Parekh सुनवाई क" तार"ख /Date of Hearing : 15-06-2016 घोषणा क" तार"ख /Date of Pronouncement : 15-06-2016 आदेश / O R D E R PER RAMIT KOCHAR,ACCOUNTANT MEMBER :

This appeal filed by the Revenue is disposed of because the tax effect in the appeal is less than Rs. 10 lacs as per the latest CBDT Circular No. 21/2015, F. No. 279/Misc.142/2007-ITJ (Pt) dated 10th December, 2015 issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India.

The ld. D.R. submitted that tax effect involved in this appeal is less than Rs. 10 lacs and the CBDT Circular No. 21/2015 is applicable to this appeal and the appeal is not maintainable/not pressed in terms of CBDT circular no 21/2015 dated 10/12/2015. The ld. DR submitted that as per the latest CBDT Circular No. 21/2015, F. No. 279/Misc.142/2007-ITJ (Pt)

ITA 7091/Mum/2013 2 dated 10th December, 2015 issued by Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, no appeal shall be filed by the Revenue in respect of an assessment year or years in which the tax effect is less than the monetary limit specified in para 3 of the circular Para 3 of the Circular No. 21/2015 S No. Appeals in Income tax Monetary Limit matters (in Rs) 1 Before Appellate Tribunal 10,00,000/- 2 Before High Court 20,00,000/- 3 Before Supreme Court 25,00,000/- In the said circular vide para 10, it is stipulated that this instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in High Courts/Tribunals. Pending appeals below the specified tax limits in may be withdrawn/not pressed.

Keeping in view the CBDT Circular No. 21/2015 dated 10th December, 3. 2015 which is applicable from retrospective effect and is also applicable to pending appeals and also in view of ld. DR stating before us that this appeal is now not maintainable/not pressed in view of the above CBDT Circular, we hold that this appeal filed by the Revenue which is covered by this order involving tax effect less than Rs. 10 lacs is not maintainable and is dismissed being not pressed. However, the Revenue is at liberty to file an application for recall of this appeal in accordance with law, if the Revenue wants to agitate the matter in accordance with the provisions/clauses as contained in the afore-stated circular. We order accordingly.

ITA 7091/Mum/2013 3

ITO 6(3)(2), MUMBAI vs. LEOPARD INVESTMENTS LTD, MUMBAI

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