ACIT- 3(2)(1), Mumbai v. Indian Express News Paper (Mumbai) Ltd
[Citation -2019-LL-0820-184]
| Citation | 2019-LL-0820-184 |
|---|---|
| Appellant Name | ACIT- 3(2)(1), Mumbai |
| Respondent Name | Indian Express News Paper (Mumbai) Ltd. |
| Court | ITAT-Mumbai |
| Relevant Act | Income-tax |
| Date of Order | 20/08/2019 |
| Assessment Year | 2009-10 |
| Judgment | View Judgment |
| Keyword Tags | change of opinion • monetary limit • tax effect • disallowance of bad debt • reassessment order |
| Bot Summary: | Commissioner of Income Tax-8, CIT(A), Mumbai dated 21.10.2016, which in turn arises from the assessment order passed under section 143(3) rws 147 dated 30.03.2015 for Assessment Year 2009-10. Authorized representative of the assessee submitted that the tax effect involved in the present appeal is below Rs. 50,00,000/- i.e. the monetary limit prescribed by CBDT Circular No.17/2019 dated 8th August 2019. AR of the assessee further submits that admittedly the tax effect involved in the present appeal is less than Rs. 50,00,000/-. The present appeal is squarely covered by the CBDT Circular No. 17/2019 dated 8th August 2019. Departmental Representative for the revenue after going through the grounds of appeal submitted that though the tax effect involved in the present appeal is less than the monetary limit of tax effect fixed by CBDT in a recent circular the revenue may be given liberty to get the appeal revived in case at the later stage it is discovered that the ground of appeal is covered by any exception clause of CBDT Circular No. 3/2018 dated 11th July 2018. Representatives of the parties, we find that tax effect involved in the present appeal is less than the monetary limit of Rs. 50,00,000/- fixed by CBDT Circular No. 17/2019 dated 8th August 2019 the appeal of revenue is dismissed being not maintainable. The revenue is given liberty to get the appeal revived in case, if it is discovered that the present appeal is covered by any exception clause of CBDT Circular No.3/2018 dated 11th July 2018. |