ACIT 19(3), MUMBAI vs. LAXMI INTERNATIONAL, MUMBAI

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ITA 7354/MUM/2012Status: DisposedITAT Mumbai06 May 2016AY 2009-102 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeal filed by the Revenue. The appeal was considered not maintainable due to the low tax effect, as per CBDT circulars.

What were the facts?

The Assessing Officer (AO) filed an appeal before the ITAT. The tax effect involved in the appeal was below the monetary limit prescribed by the CBDT for filing appeals.

What were the issues?

Whether an appeal with a tax effect below the prescribed monetary limit is maintainable before the Tribunal.

Which sections of the Income-tax Act were involved?

Section 268A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “L”, BENCH MUMBAI

Before: SHRI G.S. PANNU, AM & SHRI PAWAN SINGH, JM

For Appellant: Shri Amit Kumar Singh (DR)
For Respondent: Shri Nishit Gandhi
Hearing: 06/05/2016Pronounced: 06/05/2016

PER PAWAN SINGH, JM: The above appeal is filed by the Assessing Officer (AO) raising only one ground of appeal for the assessment year mentioned above. The tax effect involved in the above referred case is below the monetary limit (Rs. 10,00,000/-) prescribed by the Central Board of Director Taxes(CBDT), vide its Circular No.21/2015(F.No.142/2007-ITJ (Pt.) dated 10th December, 2015. 2. Shri Nishit Gandhi appeared on behalf of the assessee. The Departmental Representative (DR) on a query by the Bench fairly conceded that the tax effect involved in the above case was less than Rs. 10.00 lacs. Considering these facts, we dismiss the appeal holding them as not maintainable u/s. 268A of the Act.

3.

In the result, appeal of the Revenue is dismissed. Order pronounced in the open court on this 06/06/2016. (G.S. PANNU) JUDICIAL MEMBER Mumbai; Dated : 06/05/2016 SK, PS Copy of the Order forwarded to : 1. अपीलाथ" / The Appellant

2.

""यथ" / The Respondent. 3. आयकर आयु"त(अपील) / The CIT(A), Mumbai. 4. आयकर आयु"त / CIT "वभागीय ""त"न"ध, आयकर अपील"य अ"धकरण, मुंबई / DR, ITAT, Mumbai 5. 6. गाड" फाईल / Guard file. ///

आदेशानुसार/ BY ORDER,

उप/सहायक पंजीकार (Asstt.

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