DCIT, Central Circle- 1, Jaipur v. Kayakalp Herbal Pvt. Ltd
[Citation -2019-LL-0822-24]
| Citation | 2019-LL-0822-24 |
|---|---|
| Appellant Name | DCIT, Central Circle- 1, Jaipur |
| Respondent Name | Kayakalp Herbal Pvt. Ltd. |
| Court | ITAT-Jaipur |
| Relevant Act | Income-tax |
| Date of Order | 22/08/2019 |
| Assessment Year | 2010-11 |
| Judgment | View Judgment |
| Keyword Tags | imposition of penalty • tax effect • monetary limit |
| Bot Summary: | As per grounds of appeal, tax effect in respect of relief granted by the ld. Circular No. 3/2018 dated 11th July 2018 has been replaced by Circular No. 17/2019 dated 8th August 2019 to enhance Monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/appeals before Supreme Court for reducing litigation. Appeals/SLPs in Income- Monetary Limit Monetary Limit tax matters (previous limit) Before Appellate Tribunal 20,00,000 50,00,000 Before High Court 50,00,000 1,00,00,000 Before Supreme Court 1,00,00,000 2,00,00,000 The Assessing Officer shall calculate the tax effect separately for every assessment year in respect of the disputed issues in the case of every assessee. If, in the case of an assessee, the disputed issues arise in more than one assessment year, appeal can be filed in respect of such assessment year or years in which the tax effect in respect of the disputed issues exceeds the monetary limit. No appeal shall be filed in respect of an assessment year or years in which the tax effect is less than the monetary limit. Further, even in the case of composite order of any High Court or appellate authority which involves more than one assessment year and common issues in more than one assessment year, no appeal shall be filed in respect of an assessment year or years in which the tax effect is less than the monetary limit. Since the tax effect is less than Rs. 50.00 lacs, the appeal of the revenue deserves to be dismissed. |