ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE - 2(1), PANAJI vs. THE PIRNA URBAN CO-OP. CREDIT SOCIETY LIMITED, PIRNA, GOA

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ITA 162/PAN/2019Status: DisposedITAT Panaji15 June 2022AY 2015-162 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 appeal filed by the Revenue was not maintainable due to low tax effect, as per the CBDT Circulars. The appeal was treated as withdrawn and dismissed.

What were the facts?

The Revenue filed an appeal before the ITAT against the CIT(A)'s order. The assessee's counsel pointed out that the tax effect was below Rs. 50 lakhs, making the appeal non-maintainable as per CBDT Circulars.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal before the ITAT based on the monetary limit prescribed by CBDT circulars for appeals with low tax effect.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, PANAJI BENCH, PANAJI

Before: SHRI C.M. GARG & SHRI GIRISH AGRAWAL

For Appellant: Shri Pranav Naik, CA
Hearing: 14.06.2022Pronounced: 15.06.2022

ORDER

PER C.M. GARG, JM:

1.

This appeal has been filed by the Revenue against the order of the CIT(A), Panaji-1, dated 28.02.2019 for assessment year 2015-16.

2.

The ld. counsel for the assessee, at the outset, submitted that the tax effect involved in the grounds raised by the Revenue is below Rs.50 lakhs. Therefore, in view of the recent CBDT Circular dated 8th August, 2019, wherein the CBDT has raised the monetary limit for filing of the appeal by the Revenue before the Tribunal to Rs.50 lakhs, the appeal filed by the Revenue is not maintainable.

ACIT vs. M/s The Pirna Urban Coop. Credit Society Ltd.

3.

The ld. DR, on the other hand, fairly conceded that the tax effect involved in the grounds raised by the Revenue is below Rs.50 lakhs.

4.

We have considered the rival arguments made by both the sides and perused the material available on record. We find, the tax effect involved in the grounds raised

by the Revenue is below Rs.50 lakhs, therefore, in view of the CBDT Circular No.17/2019 dated 8th August, 2019 and the subsequent clarification dated 20th August, 2019, vide F.No.279/Misc./M-93/2018-ITJ clarifying that the said Circular is applicable to all pending appeals, the appeal filed by the Revenue is not maintainable and has to be treated as withdrawn on account of low tax effect. Accordingly, the same is dismissed.

5. In the result, the appeal filed by the Revenue is dismissed.

Order pronounced in the open court on 15th June, 2022.

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