THE ACIT, CIRCLE- 5, BARODA vs. SHREE CO.OPERATIVE BANK LTD., BARODA

ITA 2430/AHD/2014Status: DisposedITAT Ahmedabad27 September 2017AY 2008-092 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal considered the CBDT circular no. 21/2015, which mandates withdrawal or non-pressing of pending appeals with a low tax effect. Therefore, the appeal was dismissed.

What were the facts?

The Revenue appealed against the CIT(A)'s order which had restricted an addition of Rs. 9,95,299/-. The net tax effect of the appeal was less than Rs. 10 lacs.

What were the issues?

Whether the Revenue's appeal should be pressed given the low tax effect and CBDT circular instructions.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 263

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD “A” BENCH AHMEDABAD

Hearing: 07.09.2017Pronounced: 27.09.2017

PER S. S. GODARA, JUDICIAL MEMBER

This Revenue’s appeal for assessment year 2008-09 arises against the CIT(A)-V, Baroda’s order dated 29.06.2014, in case no. CAB/(A)V/216/13-14, in proceedings u/s. 143(3) r.w.s. 263 of the Income Tax Act, 1961; in short “the Act”.

2.

The Revenue’s substantive ground pleaded in the instant appeal challenges the CIT(A)’s order inter alia restricting the addition of Rs.9,95,299/-. There is no dispute that the net tax effect in the instant appeal is less than Rs.10 lacs. We find that the Central Board of Direct Taxes; hereafter the ‘Board’ has issued the

The order continues below.

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