DDIT (IT) 4(2), MUMBAI vs. QUANTILES TRANSNATIONAL CORP, MUMBAI

The present appeal has been preferred by the Revenue against the order dated 29.11.2013 of the Disputes Resolution Panel (hereinafter referred to as the DRP) relevant to assessment year 2010-11.

The sole issue raised in this appeal is relating to the levy of interest under section 234B of the Act. At the time of hearing, the Ld. Counsel for the assessee submitted that the quantum of interest involved in this appeal is only Rs.6,408/- in relation to which the department has filed the present appeal. In view of the circular issued by CBDT Instruction No.3 of 2011, dated 9th February 2011, the appeal before the Appellate Tribunal can be filed by the Revenue, when the tax effect exceeds the monetary limit of Rs.3,00,000/-. Therefore the appeal of the Revenue is dismissed under section 268A of the income Tax Act.