DY.CIT., CENTRAL CIR. 23, MUMBAI vs. BINDU OBEROI, MUMBAI

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ITA 4439/MUM/2011Status: DisposedITAT Mumbai09 February 2016AY 2005-062 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 held that the appeal was not maintainable as the tax effect was below the monetary limit prescribed by the CBDT circular. The exceptions mentioned in the circular were not applicable.

What were the facts?

The Revenue appealed against the CIT(A)'s order deleting an addition of Rs. 12,31,765/- as unexplained professional receipt. The tax effect in the appeal was below the monetary limit prescribed by CBDT circular.

What were the issues?

Whether the appeal filed by the Revenue is maintainable when the tax effect is below the prescribed monetary limit. Applicability of CBDT circular on appeals with low tax effect.

Which sections of the Income-tax Act were involved?

Section 153,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “B”, BENCH MUMBAI

Before: SHRI B.R.BASKARAN, AM & SHRI PAWAN SINGH, JM Smt. Bindu Oberoi,

For Appellant: Shri R. Murlidhar
For Respondent: Shri N.P. Singh (DR), Shri R. Murlidhar
Hearing: 09/02/2016

Revenue by : Shri N.P. Singh (DR) Assessee by : Shri R. Murlidhar Date of Hearing : 09/02/2016 Date of Pronouncement: 09 /02/2016 O R D E R

PER PAWAN SINGH, JM:

1.

The above appeal is filed by the Revenue against the order of CIT(A)-40, Mumbai dated 07.03.2011 in respect of Assessment Year (AY)-2005-06. The only ground raised

by the Revenue in the present appeal is that the CIT(A) erred in deleting the addition of Rs. 12,31,765/- as unexplained professional receipt.

2. We have noticed that tax effect in the present appeal is involved in the above referred case is below the monetary limit (Rs.10,00,000/-) prescribed by the Central Board of Director Taxes(CBDT), vide its Circular No.21/2015(F.No.142/2007-ITJ (Pt.) dated 10th December, 2015. Wherein the Departmental Representative (DR) of the Revenue has argued that the assessment order was passed by AO, u/s. 153 r.w.s. 143(3) of the I.T. Act and the latest circular may not be applicable against the Department in the present appeal. We have perused the Circular No.21/2015(F.No.142/2007-ITJ (Pt.) dated 10th

3. December, 2015, wherein exception are provided in paragraph no.8 of the Circular and no such exception find place in the said paragraph, hence, the objection raised by DR has no force.

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