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Income Tax Appellate Tribunal, KOLKATA ‘SMC’ BENCH, KOLKATA
Before: Shri P.M. Jagtap
Date of concluding the hearing : August 29, 2016 Date of pronouncing the order : August 29, 2016
O R D E R This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals), Jalpaiguri dated 25.04.2014 and ./2014 Assessment year: 2010-2011 & C.O. 85/KOL/2014 (arising out of Assessment Year: 2010-2011 Page 2 of 3 the same is being disposed of along with the Cross Objection filed by the assessee being C.O. No. 85/KOL/2014.
As pointed out by the ld. Counsel for the assessee at the time of hearing today, the tax effect involved in this appeal of the Revenue is less than the monetary limit of Rs.10,00,000/- fixed by the CBDT for filing the Revenue’s appeal before the Tribunal and this position clearly evident from the impugned order of the ld. CIT(Appeals) is not disputed even by the ld. D.R. In Circular No. 21/2015 (supra) recently issued by the CBDT, the monetary limit for filing the appeals by the Revenue before the Tribunal has been increased to Rs.10,00,000/- and as clarified in the said Circular, the said monetary limit is applicable retrospectively even to the appeals pending before the Tribunal. The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed. Keeping in view the instruction given by the CBDT vide Circular No. 21/2015 dated 10.12.2015, which is squarely applicable in the present case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.
As a result of dismissal of the Revenue’s appeal by me as not maintainable on account of low tax effect, the corresponding Cross Objection filed by the assessee has become infructuous as agreed even by the ld. counsel for the assessee. The same is accordingly dismissed.