DCIT, CIRCLE - 1, KOLKATA, KOLKATA vs. M/S. GAURAV FINANCE LTD., KOLKATA

PDF · subscribers
ITA 103/KOL/2011Status: DisposedITAT Kolkata08 January 2016AY 2007-082 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 noted that the CBDT Circular No. 21/2015 increased the monetary limit for filing appeals to Rs. 10,00,000/- and this limit applies retrospectively. Therefore, the appeal was treated as withdrawn/not pressed.

What were the facts?

The Revenue preferred an appeal before the ITAT against an order of the CIT(A) for AY 2007-08. The tax effect involved in the appeal was below Rs. 10,00,000/-.

What were the issues?

Whether the appeal filed by the Revenue is maintainable given the low tax effect and the applicability of the revised CBDT monetary limits for appeals.

AI-generated summary — verify with the full judgment below

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

Before: Shri P.M. Jagtap & Shri S.S. Viswanethra Ravi

Date of concluding the hearing : January 08, 2016 Date of pronouncing the order : January 08, 2016

O R D E R Per Shri P.M. Jagtap:- This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals)-I, Kolkata dated 30.09.2010 for the assessment year 2007-08.

2.

As noted, at the time of hearing, the tax effect involved in this appeal is below Rs.10,00,000/- and this position, which is manifest from the grounds raised by the Revenue as well as the maximum rate of tax of 20% applied by the Assessing Officer in the assessment order, is not disputed even by the ld. D.R. In Circular No. 21/2015 dated 10th December, 2015 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 ./2011 Assessment year: 2007-2008 Page 2 of 2 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 The CBDT has also instructed that such pending appeals below this specified tax limit of Rs.10,00,000/- may be withdrawn/ not pressed.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which is squarely applicable in the present case, the appeal filed by the Revenue in this case is treated as withdrawn/not pressed and dismissed accordingly.

Recent GST High Court judgments

Search GST case law →