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

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ITA 1028/MUM/2014Status: DisposedITAT Mumbai24 November 2015AY 2010-112 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's appeal was not maintainable as the tax effect did not exceed the monetary limit of Rs. 3,00,000/- prescribed by CBDT Instruction No. 3 of 2011 for filing appeals before the Appellate Tribunal.

What were the facts?

The Revenue filed an appeal against the DRP's order concerning the levy of interest under Section 234B for AY 2010-11. The quantum of interest involved was only Rs. 6,408/-.

What were the issues?

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

Which sections of the Income-tax Act were involved?

Section 234B,Section 268A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “D”, MUMBAI

Before: SHRI SANJAY GARG & SHRI ASHWANI TANEJA

For Appellant: Shri Ketan Ved, A.R
For Respondent: Shri A.K. Srivastava, D.R
Hearing: 24.11.2015Pronounced: 24.11.2015

Per Sanjay Garg, Judicial Member:

1.

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.

2.

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.

Order pronounced in the open court on 24.11.2015.

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