What did the Tribunal hold?

The tribunal dismissed the assessee's appeals as not pressed. The Revenue's appeals were dismissed as not maintainable because the tax effect was below the monetary limit set by CBDT instructions.

The assessee did not press their appeals before the tribunal. The Revenue's appeals were also considered, and it was noted that the tax effect in these appeals was below the prescribed monetary limit for filing appeals.

What were the issues?

Whether the appeals are maintainable based on the tax effect and whether the assessee's appeals should be dismissed as not pressed.

ITO vs K.N. Textiles | ITAT Mumbai 2016

Income Tax Appellate Tribunal, MUMBAI BENCHES “A”, MUMBAI

Before: Shri Joginder Singh & Shri Rajendra

For Appellant: Shri Keshav B. Bhujle, Shri M. Murli-DR

Hearing: 21/03/2016

आदेश / O R D E R Per Bench

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.

2.1. We have considered the rival submissions and perused the material available on record. In view of the fact that the assessee does not want to press these appeals and the ld. DR had no objection, therefore, the appeals of the assessee are dismissed as not pressed.

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.:-

Sl. Appeals in Income –tax matters Monetary Limit (in Rs.) No. 1. Before ITAT 10,00,000/- 2. U/s 260 A before Hon’ble High 20,00,000/- Court 3. Before Hon’ble Supreme Court 25,00,000/-

Since, the tax effect in the respective appeal is below prescribed monetary limit, therefore, the appeals of the Revenue are not maintainable, consequently, dismissed.

Finally, the appeals of the assessee are dismissed as not pressed, whereas, the appeals of the Revenue are dismissed as not maintainable, being, below prescribed monetary limit. This order was pronounced in the open in the presence of ld. representatives from both sides at the conclusion of the hearing on 21/03/2016.

Sd/- Sd/- (Rajendra) (Joginder Singh) लेखा सद�य / ACCOUNTANT MEMBER �या�यक सद�य / JUDICIAL MEMBER मुंबई Mumbai; �दनांक Dated : 21/03/2016 f{x~{tÜ? P.S/.�न.स.

आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to :

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

What did the Tribunal hold?

What were the facts?

What were the issues?

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