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Income Tax Appellate Tribunal - Cochin

The Acit, Corp Circle-291), Kochi-18, ... vs M/S.Prudent Technologies P. Ltd, Kochi on 4 September, 2018

      IN THE INCOME TAX APPELLATE TRIBUNAL
               COCHIN BENCH, COCHIN

Before Shri Chandra Poojari, AM & Shri George George K, JM

    ITA No.501/Coch/2017 : Asst.Year 2014-2015

The Asst.Commissioner of                M/s Prudent Technologies
Income-tax                     Vs.      (P) Limited, Kadavanthra
Corp. Circle 2(1)                       Kochi - 682 020.
Kochi.                                  PAN : AACCP2198R.
         (Appellant)                           (Respondent)


      CO No.21/Coch/2018 : Asst.Year 2014-2015
M/s Prudent Technologies      The Asst.Commissioner of
(P) Limited, Kadavanthra Vs.  Income-tax
Kochi - 682 020.              Corp. Circle 2(1)
                              Kochi.
       (Cross Objector)              (Respondent)

                 Revenue by : Smt.A.S.Bindhu
                Assessee by : Sri. Anil K.Nayar


                                      Date of
Date of Hearing : 04.09.2018          Pronouncement : 04.09.2018

                          ORDER


Per George George K, JM

This appeal at the instance of the Revenue and cross objection by the assessee, are directed against the order of the Commissioner of Income-tax (Appeals)-I, Kochi, dated 12.06.2017. The relevant assessment year is 2014-2015.

CO No.21/Coch.2018.

M/s.Prudent Technologies (P) Ltd.

2. It is observed that the tax effect in the appeal filed by the Revenue is less than Rs. 20 lakhs and therefore the Circular No. 3/2018 dated 11.07.2018 issued by the Central Board of Direct Taxes (CBDT) in exercise of its power vested under Sec. 268A(1) of the I.T. Act comes into play, wherein, the monetary limit for filing the appeal(s) by the Revenue before the ITAT and various High Courts as well as Apex Court are revised with an object of reducing the tax litigation. Vide para 3 of the said circular (supra), it is stated that in cases where the tax effect in the appeal to be filed before the Appellate Tribunal does not exceed Rs. 20 lakhs, appeal should not be filed. Thus, taking a note of CBDT Circular No. 03/2018 dated 11.07.2018 and considering the fact that the tax effect in the instant appeal is less than Rs. 20 lakhs, the present appeal deserves to be dismissed, as not maintainable. However, we make it clear that the issue(s) raised in the instant appeal is left open to be examined in the appropriate proceedings, if arises, in future. 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 application for recalling the order, if so, advised.

3. Accordingly in the light of CBDT Circular No. 03/2018 dated 11.07.2018, the appeal stands dismissed.

4. The Cross Objection filed by the assessee is supportive of the order of the CIT(A), is dismissed as infructuous.

CO No.21/Coch.2018.

M/s.Prudent Technologies (P) Ltd.

5. In the result, the appeal filed by the Revenue and the cross objection filed by the assessee, are dismissed.

Order pronounced on this 04th day of September, 2018.

              Sd/-                                Sd/-
       (Chandra Poojari)                (George George K)
     ACCOUNTANT MEMBER                   JUDICIAL MEMBER

Cochin ; Dated : 04th September, 2018.

Devdas* Copy of the Order forwarded to :

1. The Appellant

2. The Respondent.

3. The Pr.CIT, Kochi.

4. The CIT(Appeals)-I, Kochi.

5. DR, ITAT, Cochin

6. Guard file.

BY ORDER, (Asstt. Registrar) ITAT, Cochin