The Joint Commissioner of Income-tax (OSD), Corporate Circle 2(2), Chennai v. Igarashi Motors India P. Ltd
[Citation -2019-LL-0830-105]
| Citation | 2019-LL-0830-105 |
|---|---|
| Appellant Name | The Joint Commissioner of Income-tax (OSD), Corporate Circle 2(2), Chennai |
| Respondent Name | Igarashi Motors India P. Ltd. |
| Court | ITAT-Chennai |
| Relevant Act | Income-tax |
| Date of Order | 30/08/2019 |
| Assessment Year | 2011-12 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect |
| Bot Summary: | 268A(1) of the IT Act comes into play wherein, the monetary limit for filing the appeal by the Revenue before the ITAT and various High Courts as well as Apex Court are revised with an object of the reducing the tax litigation. Vide para 3 of the said circular it is stated that in cases where the tax effect in the appeals to be filed before the Appellate Tribunal does not exceed F50 lakhs appeals should not be filed. Thus taking a note of CBDT Circular No. 17/2019, dated 08.08.2019 and considering the fact that the tax effect in the instant appeal is less than Rs.50 lakhs, the present appeal deserves to be dismissed as not pressed / not maintainable. At the same time, we also make it clear that if the appeal fall in any of the exceptions referred to in the above said CBDT Circular, the Revenue is at liberty to move an :- 3 -: ITA No. 1616/19 CO 78/19 application for recalling the order if so advised. Accordingly, in the light of CBDT circular No.17/2019 dated 08/08/2019, the appeal filed by the Revenue stands dismissed. Since the appeal of the Revenue is being dismissed, cross objection filed by the assessee has become infructuous. To summarize the results, appeal of the Revenue as well as cross objection of the assessee are dismissed. |