ITO 18(3)(3), MUMBAI vs. RATNAKAR LAXMAN CHAWLA, MUMBAI

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ITA 4516/MUM/2013Status: DisposedITAT Mumbai03 March 2016AY 2009-102 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 considered the CBDT Circular No. 21 of 2015, which specifies monetary limits for filing appeals. Based on this circular, the Tribunal decided to dismiss the appeal.

What were the facts?

The Revenue filed an appeal against the order of the CIT(A) for the assessment year 2009-10. The assessee's counsel pointed out that the tax effect was less than 10 lakhs.

What were the issues?

The primary issue was whether the Revenue's appeal should be entertained given the low tax effect, in light of CBDT circulars.

AI-generated summary — verify with the full judgment below

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

Before: SHRI B.R.BASKARAN (AM) & SHRI RAM LAL NEGI (JM)

For Appellant: Shri. B.S.Bist
For Respondent: Shri. Hari S. Raheja
Hearing: 03/03/2016Pronounced: 03/03/2016

The appeal filed by the revenue is directed against the order dated 06/03/2013 passed by Ld CIT(A)-29, Mumbai for assessment year 2009-10.

2.

The Ld Counsel appearing for the assessee submitted that the tax effect issue involved in this appeal is less than 10 lakhs and hence in view of the Circular No. 21of 2015 dated. 10/12/2015 issued by the CBDT, the revenue is peculated for perusing this appeal.

3.

The Ld DR also agreed with the submission of the Ld. AR.

4.

In view of the above circular issued by CBDT referred (supra). We dismiss the appeal of the revenue.

5.

In the result, appeal filed by the revenue for the assessment years 2009-10, is dismissed.

Order pronounced in the open court on 3rd March, 2016

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