ACIT, CHENNAI vs. MIKIMOTO EXPORTS (P) LTD., CHENNAI

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ITA 1735/CHNY/2013Status: DisposedITAT Chennai13 April 2015AY 2003-043 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 Revenue was precluded from filing the appeal due to the low tax effect, which was below the monetary limit specified by the CBDT. Therefore, the appeal was dismissed as non-admitted.

What were the facts?

The Revenue appealed the CIT(A)'s order allowing a 10% deduction under Section 80HHC. The tax effect of the appeal was less than the monetary limit set by the CBDT for filing appeals.

What were the issues?

Whether the Revenue's appeal is maintainable when the tax effect is below the prescribed monetary limit for filing appeals before the Tribunal.

Which sections of the Income-tax Act were involved?

Section 80HHC

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “D” BENCH, CHENNAI

Before: SHRI CHANDRA POOJARI & SHRI CHALLA NAGENDRA PRASAD

For Appellant: Shri. N. Madhavan, IRS, JCIT
Hearing: 13.04.2015Pronounced: 13.04.2015

आदेश / O R D E R

PER CHANDRA POOJARI, ACCOUNTANT MEMBER

1.

This appeal by the Revenue is directed against the order of the Commissioner of Income Tax (Appeals)-VI, Chennai, dated 26.04.2013 for the assessment year 2003-2004.

I.T.A.No.1735/Mds/2013 :- 2 -:

2.

The crux of the ground of the Revenue is that the Commissioner of Income Tax (Appeals) erred in allowing deduction @10% u/s. 80HHC by accepting the workings furnished by the assessee.

3.

We have heard both the parties and perused the material on record. As seen from the order of Commissioner of Income Tax (Appeals), the tax effect from this appeal is �3,65,698/- which is less than monetary limits fixed by the CBDT to file appeal by the Revenue as per CBDT circular No.5/2014, dated 10th July, 2014 wherein the monetary limit fixed at �4,00,000/- to file appeal before the Tribunal.

Being so, the Revenue authorities are precluded from filing of appeal in this case. Accordingly, this appeal is dismissed as non-admitted.

4.

In the result, the Revenue’s appeal No. ITA 1735/Mds/2013 is dismissed.

Order pronounced on Monday, the 13th day of April, 2015, at Chennai.

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