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Income Tax Appellate Tribunal, “A” BENCH, MUMBAI
Before: SHRI SAKTIJIT DEY & SHRI ASHWANI TANEJA
Appeal by the Department and cross objection by the assessee are directed against the order dated 17th August 2012, passed by the learned Commissioner (Appeals)–8, Mumbai, deleting penalty imposed under section 271(1)(c) of the Income Tax Act, 1961 (for short "the Act") for the assessment year 2008–09.
At the outset, learned Representative of both the parties submitted before us that penalty imposed under section 271(1)(c) of the Act, which is disputed by the Department in the present appeal being ` 3,27,288, is below the monetory limit of ` 10 lakh, as fixed by the CBDT vide circular CBDT vide Circular no.21 of 2015 dated 10th December 2015, in respect of appeal to be filed by the Department before the Tribunal.
Considering the submissions of the parties and also taking note of the fact that the amount in dispute in the present appeal is ` 3,27,288, which is below the monetory limit of ` 10 lakh fixed by the CBDT in the circular referred to above, we dismiss the appeal of the Revenue as not maintainable.
3 M/s. King Koil Sleep System Pvt. Ltd. 4. In the result, Revenue’s appeal is dismissed.
Cross Objection no.175/Mum./2012 5. In view of our aforesaid decision in Department’s appeal, the cross objection filed by the assessee, merely supporting the order of the learned Commissioner (Appeals), has become infractuous and accordingly, the same deserves to be dismissed.
In the result, assessee’s cross objection is dismissed. Pronounced in the open Court on 28th January 2016