ITO vs M/S Udupi Urban Development… | ITAT Panaji 2023

Income Tax Appellate Tribunal, PANAJI BENCH, PANAJI

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri KS Balasubramanya

For Respondent: Shri N. Shrikanth

आदेश / ORDER

PER R.S. SYAL, VP :

This appeal by the Revenue is directed against the order 27-03-2018 passed by the CIT(A), Mangaluru in relation to the assessment years 2012-13.

At the outset, the ld. DR submitted that the tax effect in this appeal is less than Rs.50.00 lakh. The CBDT has issued circular No.17/2019 dated 08-08-2019 revising upward the monetary limits for filing of appeals by the Department in Income-tax Cases before various appellate forums. The earlier circular No.03/2018 dated 11-07-2018 fixed monetary limit for filing of appeals by the M/s. Udupi Urban Development Authority Revenue before the Tribunal at Rs.20.00 lakh. Such limit has now been enhanced in the recent Circular dated 08-08-2019 to Rs.50.00 lakh. Since tax effect in the appeal under consideration is stated to be Rs.19.06 lakh, which is less than the revised monetary limit of Rs.50.00 lakh, we are not inclined to entertain this appeal.

However, later on, if it is found that the tax effect is more than the monetary limit of Rs.50.00 lakh, the Department is at liberty to move application for restoration of the appeal.

In the result, the appeal is dismissed. Order pronounced in the Open Court on 11th July, 2023.

THE INCOME TAX OFFICER, WARD - 1, UDUPI vs. M/S UDUPI URBAN DEVELOPMENT AUTHORITY, BANNANJE