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Income Tax Appellate Tribunal, MUMBAI BENCH “D”, MUMBAI
Before: SHRI D. KARUNAKARA RAO & SHRI AMIT SHUKLA
आदेश ORDER अिमत शु�ला : �या. स.: PER AMIT SHUKLA, JM: The aforesaid appeal has been filed by the revenue against impugned order dated 11.03.2014, passed by Commissioner of Income Tax (Appeals)-14, Mumbai [CIT(A)] in relation to levy of penalty of Rs. 6,50,900/- u/s 272A(2)(k). Despite notice to the assessee none appeared on behalf of the assessee nor any adjournment letter has been filed. Hence we proceed to decide the impugned appeal after hearing DR.
At the outset, it has been admitted by the Ld. DR that the tax affect on the disputed issue is less than Rs. 10 lakhs, therefore, appeal of the revenue is not maintainable in view of the आर आर नाबर अँड कंपनी शेर �ोकस� �ल�मटेड 2 R R Nabar and Co Share Brokers Ltd. ITA 3822/M/2014 latest Board Circular. This fact has been admitted by the Ld. DR also. Now in the wake of CBDT’s Circular No. 21 of 2015 dated 10.12.2015, the monetary limit prescribed for filing of appeal before the Tribunal is Rs. 10 lakhs. Further it has also been clarified that this circular will apply on pending appeals also which is evident from para 10 of the impugned Circular, which reads as under:- “10. This instruction will apply retrospectively to pending appeals to be filed henceforth in High Courts/Tribunals. Pending appeals below the specified tax limits in para 3 above may be withdrawn/not pressed. Appeals before the Supreme Court will be governed by the instructions on this subject, operative at the time when such appeal was filed”.
Thus, the appeal of the revenue is treated as dismissed as non- maintainable.
In the result, appeal of the revenue stands dismissed. Order pronounced in the open court on 31st March, 2016.
Sd/- Sd/- (िड. क�नाकर राव) (अिमत शु�ला) लेखा सद�य �याईक सद�य (D. KARUNAKARA RAO) (AMIT SHUKLA) ACCOUNTANT MEMBER JUDICIAL MEMBER Mumbai, Date: 31st March, 2016 ��त/Copy to:- 1) अपीलाथ� /The Appellant. 2) ��यथ� /The Respondent. 3) The CIT(A) -14, Mumbai. 4) The Commissioner of Income Tax-IV, Mumbai. 5) िवभागीय �ितिनिध ““डी” ”, आयकर अपीलीय अिधकरण, मुंबई/ The D.R. “A” Bench, Mumbai. 6) गाड� फाईल \ Copy to Guard File.