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Income Tax Appellate Tribunal, “E” BENCH, MUMBAI
Before: SHRI SANJAY ARORA, AM & SHRI PAWAN SINGH, JM
O R D E R Per Sanjay Arora, A. M.: This is an Appeal by the Revenue directed against the Order by the Commissioner of Income Tax (Appeals)-13, Mumbai (‘CIT(A)’ for short) dated 07.3.2014, dismissing the levy of penalty u/s. 271(1)(c) of the Income Tax Act, 1961 (‘the Act’ hereinafter) for the assessment year (A.Y.) 2008-09 vide order dated 26.04.2011.
At the very outset, it was submitted by the ld. Authorized Representative (AR), the assessee’s counsel, Ms. Rashmi Kyal, that the tax effect of the Revenue’s appeal is below Rs.10 lacs, and which is therefore not maintainable u/s. 268A of the Act in view of the recent Instruction issued by the Board (Instruction No. 21 of 2015 dated 10.12.2015 (F. No. 279/Misc/142/2007-IT(PT)). The ld. Departmental Representative (A.Y. 2008-09) Dy. CIT vs. Times Global Broad Casting Co. Ltd. (DR) fairly conceded to the said tax effect of the instant appeal being well below Rs.10 lacs, the penalty under dispute – since deleted by the ld. CIT(A), being for Rs.6,20,183/-, and which is to be reckoned as the tax effect in such a case.
In view of the foregoing, the Revenue’s appeal is not maintainable u/s. 268A of the Act, requiring the appellate authorities to have regard to the monetary limit prescribed by the Board, which per its Circular dated 10.12.2015 (supra) is at Rs.10 lacs for the Appellate Tribunal, i.e., for appeals preferred by the Revenue. The same is therefore dismissed as incompetent. We decide accordingly.