2020 (1) TMI 1611 - AT - Income Tax

Maintainability of appeal before ITAT - low tax effect - HELD THAT - Assessee has furnished a working showing that the tax effect involved in each of these three appeals is less than the monetary limit of Rs.50,00,000/- fixed by the C.B.D.T. for filing the appeal by the Revenue before the Tribunal and this position is not disputed even by the ld. D.R In the Circular No. 17/2019 dated 8th August, 2019 issued by the C.B.D.T. the monetary limit for filing the appeal by Revenue before the Tribunal is revised to Rs.50,00,000/-. As further clarified in the said Circular, the monetary limit so revised is applicable even to the pending appeals and the same are directed to be withdrawn or not pressed. We accordingly treat these appeals as withdrawn/not pressed on account of low tax effect in view of the CBDT Circular No.17/2019 dated 8t h August, 2019 and dismiss the same. Appeals filed by the Revenue are dismissed.

Summary

The Appellate Tribunal ITAT Kolkata dismissed three appeals filed by the Revenue due to the tax effect being less than Rs. 50,00,000, as per the CBDT Circular No. 17/2019. The appeals were treated as withdrawn/not pressed and dismissed. (2020 (1) TMI 1611 - ITAT Kolkata)