Income-tax Officer-12(1)(1), Mumbai v. AMBFS Pvt. Ltd
[Citation -2019-LL-0826-12]
| Citation | 2019-LL-0826-12 |
|---|---|
| Appellant Name | Income-tax Officer-12(1)(1), Mumbai |
| Respondent Name | AMBFS Pvt. Ltd. |
| Court | ITAT-Mumbai |
| Relevant Act | Income-tax |
| Date of Order | 26/08/2019 |
| Assessment Year | 2011-12 |
| Judgment | View Judgment |
| Keyword Tags | quantum addition • low tax effect |
| Bot Summary: | The aforesaid appeal by revenue contest the order of learned first appellate authority on certain grounds of appeal. The 2 matter is proceeded with ex-parte qua the assessee in view of the fact that the appeal is stated to be covered by recent low tax effect circular issued by CBDT. 2. Upon further appeal, Ld. CIT(A) provided relief to the extent of Rs.139.78 Lacs, against which the revenue is in further appeal before us. Government of India, Ministry of Finance, Department of Revenue and therefore, the appeal is not maintainable. The Ld. Departmental Representative is unable to point out any exceptions in the appeals as provided in para-10 of Circular no. We have gone through the circular and find that the tax effect of quantum in dispute in the appeal is below prescribed limit of Rs.50 Lacs and the assessee stood benefitted by the above circular issued by CBDT wherein the minimum monetary limit for filing the appeals before various appellate authorities have been fixed as under: - S. No. Appeals/ SLPs in Income-tax Monetary Limit matters 1 Before Appellate Tribunal 50.00,000 3 2 Before High Court 1,00.00,000 3 Before Supreme Court 2,00.00,000 The aforesaid limits, as per para 13 of the Circular no. At the same time, a liberty is given to revenue to seek recall of the appeal, if at a later stage, it is found that the matter is covered by any exceptions provided in the aforesaid circular or in case the tax effect of the quantum additions as agitated by revenue exceeds the prescribed monetary limit. |