What did the Tribunal hold?

The Tribunal held that the Revenue was precluded from filing the appeal as the tax effect was below the prescribed monetary limit. Therefore, the appeal was dismissed as non-admitted.

The Revenue filed an appeal against the CIT(A)'s order concerning the assessment year 2009-2010. The appeal's tax effect was below the monetary limit set by the CBDT for filing appeals before the Tribunal.

What were the issues?

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

ITO vs G.V.Foundations P. Ltd., Chennai | ITAT Chennai 2015

Income Tax Appellate Tribunal, “ C ” BENCH, CHENNAI

Before: SHRI CHANDRA POOJARI & SHRI S.S. GODARA

For Appellant: Shri. A.V. Sreekanth, IRS, JCIT

Pronounced: 09.03.2015

आदेश / O R D E R

PER CHANDRA POOJARI, ACCOUNTANT MEMBER

This appeal by the Revenue is directed against the order dated 11-07-2014 passed by the CIT(A)-II, Chennai for the assessment year 2009-2010.

I.T.A.No.2939/Mds/2014 :- 2 -:

The crux of the ground of the Revenue is rental income derived by the assessee is to be assessed as ‘’income from House Property’’.

None appeared for the assessee. We take up the case to decide on merits after hearing the ld. Departmental Representative. We have gone through the case records. As seen from the order of CIT(A), the tax effect from this appeal is �2,69,648/- 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.

In the result, the Revenue’s appeal No.ITA 2939/Mds/2014 is dismissed.

Order pronounced in the open court at the time of hearing on Monday, the 9th of March, 2015 at Chennai.

ITO, CHENNAI vs. G.V.FOUNDATIONS P. LTD., CHENNAI

What did the Tribunal hold?

What were the facts?

What were the issues?

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