ITO, WD-10(3), KOLKATA, KOLKATA vs. M/S C & E LTD., KOLKATA
What did the Tribunal hold?
The Tribunal held that the Revenue's appeal was to be treated as withdrawn or not pressed due to the low tax effect, as per CBDT Circular No. 21/2015. Consequently, the assessee's Cross Objection was rendered infructuous.
What were the facts?
The Revenue filed an appeal before the ITAT, which was accompanied by a Cross Objection from the assessee. The tax effect in the Revenue's appeal was below the revised monetary limit set by the CBDT for filing appeals.
What were the issues?
Whether the Revenue's appeal should be dismissed on grounds of low tax effect as per CBDT circulars. Whether the assessee's cross-objection becomes infructuous if the main appeal is dismissed.
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, KOLKATA ‘B(SMC
Before: Shri P.M. Jagtap
Heard together (2 matters)
Read from the judgment's own cause title. This page is filed under one of them.
This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-9, Kolkata dated 27.03.2015 and I.T.A. No. 1012/KOL./2015 Assessment year: 2008-2009 & C.O. 40/KOL/2015 (arising out of Assessment Year: 2008-2009 Page 2 of 3 the same is being disposed of along with the Cross Objection filed by the assessee being C.O. No. 40/KOL/2015.
As pointed out by the ld. Counsel for the assessee, at the outset, the tax effect involved in this appeal of the Revenue is less than the revised monetary limit recently fixed by the CBDT vide Circular No. 21/2015 dated 10th December, 2015 at Rs.10,00,000/- for filing the appeal by the Revenue before the Tribunal and this position clearly evident from the grounds raised by the Revenue in this appeal 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 The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed.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which is squarely applicable in the present case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.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 agreed by the ld. Representative of the assessee, the Cross Objection filed by the assessee has become infructuous as a result of dismissal of the corresponding appeal of the Revenue. Accordingly, this Cross Objection filed by the assessee is also dismissed.
In the result, the appeal of the Revenue as well as the Cross Objection filed by the assessee both are dismissed. Order pronounced in the open Court on July 27, 2016. Sd/- (P.M. Jagtap) Accountant Member Kolkata, the 27th day of July, 2016
I.T.A. No. 1012/KOL./2015 Assessment year: 2008-2009 & C.O. 40/KOL/2015 (arising out of Assessment Year: 2008-2009 Page 3 of 3 Copies to : (1) Income Tax Officer, Ward-10(3), Kolkata, Aayakar Bhawan, P-7, Chowringhee Square, Kolkata-700 069
(2) M/s. C & E Limited, 95, Park Street, 2 nd Floor, Kolkata-700 016
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