K N TEXTILES,MUMBAI vs. ITO 14(2)(1), MUMBAI

This bunch of ten cross appeals is by the assessee as well as Revenue against the impugned orders all dated 20/09/2013 of the ld. First Appellate Authority, Mumbai. First, we shall take up the appeals of the assessee (ITA Nos.6890 to 6864/Mum/2013), on the grounds stated in the respective appeal.

During hearing, the ld. counsel for the assessee, Shri Keshav B. Bhujle, did not press these appeals. The ld. DR, Shri M. Murli had no objection to the request of the assessee.

Now, we shall take up the appeals of the Revenue (ITA Nos.7446 to 7450/Mum/2013) on the grounds stated therein. At the outset, the ld. counsel for the assessee, Shri Keshav B. Bhujle, contended that the tax effect in the respective appeal is below prescribed monetary limit. This factual matrix was consented to be correct by Shri M. Murli, ld. DR. 3.1. We have considered the rival submissions and perused the material available on record. It is noted that the tax effect in the present appeals is below prescribed monetary limit of Rs.10 lakh for filing the appeal before the Tribunal. The CBDT issued instruction No.21 of 2015, dated 10/12/2015 (F No.279/Misc./142/2007-IT(PT), applicable with retrospective effect, wherein, the Department was advised/directed by the Board not to file appeal in the cases where the tax effect does not exceed the following monetary limit.:-