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Income Tax Appellate Tribunal, MUMBAI BENCHES “A”, MUMBAI
Before: Shri Joginder Singh & Shri Rajendra
आदेश / O R D E R Per Joginder Singh (Judicial Member) The Revenue is aggrieved by the impugned order dated 01/11/2012 of the ld. First Appellate Authority, Mumbai, whereas, the assessee has also preferred cross objection against the aforesaid order.
First, we shall take up the appeal of the Revenue ( Rs.16 lakh made u/s 69 of the Income Tax Act, 1961 (hereinafter the Act).
2.1 During hearing of this appeal, the ld. Counsel for the assessee, Shri B.A. Lawate, contended that the tax effect in the present appeal is below the prescribed monetary limit. This factual matrix was not controverted by the ld. DR, Shri Arvind Kumar.
2.2. We have considered the rival submissions and perused the material available on record. It is noted that the total addition deleted by the Commissioner of Income Tax (Appeal) is Rs.16 lakh and the tax thereon is below prescribed monetary limit of Rs.10 lakh for filing the appeal before the Tribunal.
2.3. In view of the fact, that the tax effect in the present appeal is below prescribed monetary limit, as contained in CBDT 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/-
As per the aforesaid instruction/revised monetary limit, the Department is not to file appeal before the Tribunal, wherein, the tax effect is less than Rs.10,00,000/-, consequently, the appeal of the Revenue is not maintainable, therefore, dismissed. 3. Now, we shall take up the cross objection of the assessee, which was argued to be in favour of the order of the Commissioner of Income Tax (Appeal) . Since, we have dismissed the appeal of the Revenue as not maintainable, therefore, the cross objection of the assessee has become infructuous. Finally, the appeal of the Revenue is dismissed as not maintainable, whereas, the cross objection of the assessee is dismissed as infructuous. This order was pronounced in the open in the presence of ld. representatives from both sides at the conclusion of the hearing on 04/04/2016.