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Income Tax Appellate Tribunal, MUMBAI BENCHES “A”, MUMBAI
Before: SHRI G.S.PANNU (AM) & SHRI RAM LAL NEGI (JM)
This appeal has been filed by the revenue against order dated 17/04/2013 passed by the Ld CIT(A)-34, Mumbai for the assessment year 2009-10.
The revenue has challenged the impugned order on following ground:- 1. On the facts in the circumstances of the case and in law, the Ld. CIT(A) erred in restricting the addition of Rs. 14,93,971/- made by the AO u/s u/s 14A r.w.s. 8D on the exempted income to 2% of the disallowance when the relief allowed to the assessee was not in conformity with section u/s 14A r.w.s. 8D.
3 At the outset , the Ld. DR pointed out that the amount of addition in dispute is only Rs. 14,93,971/- and the tax effect on this amount is below the specified monetary limit of Rs. 10 lakhs. As per the latest CBDT Circular No. 21 of 2015, dated 10th December, 2015, new guidelines of monetary limit for filing of appeals by the Department has been issued, whereby the tax effect for filing of appeal before the ITAT has been prescribed at Rs. 10 lakhs. It has been specifically clarified in the said instruction will apply retrospectively to all the pending appeals. The issue involved in this appeal does not fall under any of the exceptions specified under para 8 of the said circular. Accordingly, the appeal filed by the revenue is not maintainable. We, therefore, dismiss the same in limine.
Order pronounced in the open court on 6th May, 2016