THE ACIT, THRISSUR vs. M/S.T.N.AUTO & GENERAL ENGINEERING CO. P.LTD, WADAKKANCHERRY

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ITA 31/COCH/2021Status: DisposedITAT Cochin30 November 2022AY 2007-082 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that the revenue's appeal was not maintainable as the tax effect of the disputed additions was below the threshold limit prescribed by CBDT Circular No. 17/2019. The appeal was dismissed on this ground.

What were the facts?

The revenue appealed against the deletion of an addition of Rs. 119.12 Lacs made by the AO for alleged suppression of profits. The assessee argued that the appeal was not maintainable due to low tax effect.

What were the issues?

The primary issue was the maintainability of the revenue's appeal based on the monetary limit for tax effect as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Not Applicable

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: HON’BLE SHRI SATBEER SINGH GODARA, J.M & HON’BLE SHRI MANOJ KUMAR AGGARWAL, A.M

आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. The sole grievance of the revenue in the captioned appeal is deletion of addition of Rs.119.12 Lacs as made by Ld. AO on account of suppression of profits. 2. The Ld. AR, at the outset, submitted that the appeal is not maintainable on account of low tax effect in terms of CBDT Circular No. 17/2019 dated 08/08/2019 [F.No.279/Misc.142/2007-TTJ(Pt.). For the

2 - same, our attention has been drawn to Form No.36 and grounds of appeal raised by the revenue. The same could not be controverted by the revenue.

2. Upon perusal, it could be gathered that tax effect of quantum additions under dispute by revenue is below threshold limit of Rs.50 Lacs and therefore, the revenue’s appeal is not maintainable in terms of the stated circular.

3. In view of the foregoing, the appeal stand dismissed. However, a liberty is given to revenue to seek recall of the appeal, if at a later stage, it is found that the matter is covered by any exceptions provided in any of the circular or in case the tax effect in the appeal exceeds the prescribed monetary limit.

4. The appeal stands dismissed. Order pronounced on 30th November, 2022.

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