ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-3, GUWAHATI vs. WILLIAMSON FINANCIAL SERVICES LIMITED, KOLKATA

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ITA 153/GTY/2019Status: DisposedITAT Guwahati09 May 2022AY 2010-112 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the tax effect was less than the revised monetary limit of Rs. 50,00,000/- for filing appeals by the Revenue. Following the CBDT circular, the Tribunal treated the appeal as withdrawn or not pressed.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A). The assessee contended that the tax effect was below the monetary limit for filing appeals as per CBDT circular. This was not disputed by the Revenue.

What were the issues?

Whether the appeal filed by the Revenue is maintainable before the Tribunal given the low tax effect as per CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA-GUWAHATI ‘e-COURT’, KOLKATA

Before: Shri Rajpal Yadav, Vice- & Shri Rajesh Kumar

Per Rajpal Yadav, Vice-President (KZ):- This appeal filed by the Revenue is directed against the order of ld. Commissioner of Income Tax (Appeals), Guwahati-2, Guwahati dated 31.01.2019.

2.

At the time of hearing before the Tribunal, the ld. Counsel for the assessee has contended that the tax effect involved in this appeal of the Revenue is less than the monetary limit of Rs.50,00,000/- fixed by the C.B.D.T. for filing the appeal by the Revenue before the Tribunal and this Assessment Year: 2010-2011 Williamson Financial Services Limited, Guwahati position is not disputed even by the ld. D.R. In the Circular No. 17/2019 dated 8th August, 2019 issued by the C.B.D.T., the monetary limit for filing the appeal by Revenue before the Tribunal is revised to Rs.50,00,000/-. As further clarified in the said Circular, the monetary limit so revised is applicable even to the pending appeals and the same are directed to be withdrawn or not pressed. We accordingly treat this appeal as withdrawn/not pressed on account of low tax effect in view of the CBDT Circular No.17/2019 dated 8th August, 2019 and dismiss the same.

3.

In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open Court on May 09, 2022.

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