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TMI Blog2021 (8) TMI 74X X X X Extracts X X X X X X X X Extracts X X X X ..... C of the Act - whatever amount of deduction is reduced by allocating the expenses which is resulting the deduction in the amount of profit that will get adjusted in the deduction available to the assessee under section 80 IC of the Act. Thus the entire exercise carried out by the Revenue is tax neutral. Accordingly, we hold that the appeals filed by the Revenue are not maintainable. As there is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have been filed at the instance of the Revenue and the assessee has also filed CO against the order of the learned Commissioner of Income Tax (Appeals)- 12 Ahmedabad {(CIT-A in short)} dated 25 September 2018 arising out of assessment order dated 29-12-2011 for the assessment years 2009-10 to 2011- 12. 2. Briefly stated facts of the case are that the assessee, a partnership firm is eligible for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 4. As per the AO, the assessee wa s showing higher amount of gross as well as net profit being a unit eligible for deduction under section 80IC of the Act which is nothing but the infla ted profit. As such the assessee has not claimed various expenses and diverted them to other group companies. Thus the AO rejected the books of accounts and determined the profit at R s. 40,04,60,962.00 being ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... R contended that the appeals filed by the Revenue should be dismissed in limine. 8. On the contrary, the learned DR agreed to the proposition projected by the learned AR for the assessee that the appeals filed by the Revenue are not maintainable. 9. The learned AR in his rejoinder submitted that if the appeals of the Revenue are not maintainable, then he doesn t want to press the issue raise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeals are also not maintainable in view of the CBDT Circular No. 17 of 2019 dated 8-8-2019. As per the circular all pending appeals filed by the Revenue are liable to dismissed as a measure for reducing tax litigation where the tax effect does not exceed the prescribed monetary limit which is at ₹ 50 lakhs. Therefore, all the appeals filed by the Revenue are dismissed in limine. C.O. N ..... X X X X Extracts X X X X X X X X Extracts X X X X
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