ITO, WD-30(1), KOLKATA, KOLKATA vs. SHRI LADDU GOPAL BAJORIA, KOLKATA

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 The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed.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which is squarely applicable in the present case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.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 26, 2016. Sd/- (P.M. Jagtap) Accountant Member Kolkata, the 26th day of July, 2016