What did the Tribunal hold?

The Tribunal noted that the tax effect was below the revised monetary limit of Rs. 10,00,000/- for filing appeals, as per CBDT Circular No. 21/2015. Following the CBDT's instructions, the appeal was treated as withdrawn.

The Revenue filed an appeal before the ITAT against an order of the CIT(Appeals). The tax effect involved in the appeal was below the revised monetary limit set by the CBDT for filing appeals.

What were the issues?

Whether the Revenue's appeal should be withdrawn or not pressed due to the tax effect being below the revised monetary limit prescribed by the CBDT.

DCIT vs M/S Asiatic Gases Ltd | ITAT Kolkata 2016

Income Tax Appellate Tribunal, KOLKATA BENCH ‘C’, KOLKATA

Before: Shri P.M.Jagtap, AM & Shri S.S.Viswanethra Ravi, JM]

Hearing: 26.04.2016Pronounced: 26.04.2016

ORDER

Per Shri S.S.Viswanethra Ravi, JM

This is an appeal preferred by the Revenue against the order dated 27.02.2013 passed by the CIT(Appeals)-IV, Kolkata in Appeal No.113/CIT(A)-IV/2011-12 for the assessment year 2009- 10 framed under section 143(3) of the I.T.Act.

As pointed out by the ld. Counsel for the assessee, at the outset, the tax effect involved in these appeal of the Revenue is less than the revised monetary limit recently fixed by the CBDT vide Circular No.21/2015 dated 10th December,2015 at Rs.10,00,000/- for filing the appeal by the Revenue before the Tribunal and this position clearly evident from the grounds raised by the Revenue in this appeal is not disputed even by the ld. D.R.

2 M/s. Asiatic Gases Ltd.. In Circular No. 21/2015 (supra) recently issued by the CBDT, the monetary limit for filing the appeals by the Revenue before the Tribunal has been increased to Rs.10,00,000/- and as clarified in the said Circular, the said monetary limit is applicable retrospectively even to the appeals pending before the Tribunal. The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed. Keeping in view the instruction given by the CBDT vide Circular No. 21/2015 dated 10.12.2015, which is squarely applicable in the present case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.

In the result, appeal of the department is dismissed. Order Pronounced in the Open Court on 26.04.2016

D.C.I.T CIR - 4,KOLKATA, KOLKATA vs. M/S ASIATIC GASES LTD, KOLKATA

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

Recent GST High Court judgments