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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 31/03/2013 passed by the Ld CIT(Appeals)-34, Mumbai for the assessment year 2008-09.
The revenue has challenged the impugned order on following effective grounds of appeal:-
1. “Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting penalty of Rs. 4,33,658/- levied u/s 271(1)(c) by thr assessing officer on the basis that the quantum addition had been deleted by the Ld. CIT(A) vide its order dated 31/03/2014.”
2. “Whether on the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the penalty of Rs.4,33,658/- levied by the Assessing Officer ignoring the fact that the assessee could not substantiate with documentary evidence the source of the cash deposits.”
3. “On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in deleting the penalty of Rs. 4,33,658/- levied by the Assessing Officer as further appeal has been recommended against the quantum addition by not accepting the decision of the Ld. CIT(A)”
Case was called for hearing, however, none appeared on behalf of the respondent/assessee. We notice that the tax effect in this case is below Rs.10,00,000/- therefore, as per the CBDT Circular No. 21 of 2015, dated 10/12/2015, the present appeal is not maintainable.
The Ld. DR fairly conceded that the tax effect in department’s appeal is below Rs.10 Lakhs, We further 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 in the Circular aforesaid 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 14th June, 2016