What did the Tribunal hold?

The Tribunal held that the appeal of the Revenue was not maintainable as the tax effect was below the prescribed monetary limit of Rs. 10,00,000/- as per CBDT instructions. Therefore, the appeal was dismissed.

The Revenue filed an appeal before the ITAT. The assessee contended that the appeal was not maintainable as the tax effect was below the prescribed monetary limit. The Revenue did not controvert this fact.

What were the issues?

The primary issue was whether the Revenue's appeal was maintainable before the ITAT given the tax effect was below the prescribed monetary limit set by the CBDT.

I.T.O. 25(1)(1) vs Kaushik Krishnaraj Bhagta | ITAT Mumbai 2015

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

Before: Shri Joginder Singh, & Shri Ramit Kochar

For Respondent: Shri Anil Thakrar

Hearing: 17/12/2015

आदेश / O R D E R Per Joginder Singh (Judicial Member) The Revenue is aggrieved by the impugned order dated 29/06/2012 of the ld. First Appellate Authority, Mumbai, on the grounds as stated therein.

2 Shri Kaushik Krishnaraj Bhagta

At the outset, the ld. counsel for the assessee Shri Anil Thakrar, contended that the appeal of the Revenue is not maintainable as the tax effect is below prescribed monetary limit. This factual matrix was not controverted by Ms. Vinita Menon, ld. DR. 2.1. We have considered the rival submissions and perused the material available on record. Before us, the stand of the assessee is that the total income computed by the Assessing Officer is Rs.21,50,000/- on which the tax effect is below the prescribed limit of Rs.10 lakh. This factual matrix was consented to be correct by ld. DR. 2.2. In view of the fact that the tax effect in the appeal is below prescribed monetary limit, the appeal of the Revenue is not maintainable, as contained in CBDT instruction No.3/2011 dated 09/02/2011, further instruction No.5/2014 (F No.279/Misc./142/2007-IT(PT) dated 10/07/2014. The CBDT revised the monetary limit for filing the appeal before various Authorities/Courts vide CBDT Circular No.21 of 2015, dated 10/12/2015 (F No.279/Misc./142/2007-IT(PT), with retrospective effect and advised/directed the Department not to file appeal in the cases where the tax effect does not exceed the following monetary limit.:-

Sl. Appeals in Income –tax matters Monetary Limit (in Rs.) No. 1. Before ITAT 10,00,000/-

3 Shri Kaushik Krishnaraj Bhagta

I.T.O. 25(1)(1), MUMBAI vs. KAUSHIK KRISHNARAJ BHAGTA, MUMBAI

What did the Tribunal hold?

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