Income Tax Appellate Tribunal - Ahmedabad
Dy.Commissioner Of Income Tax ... vs Gujarat Cypromet Ltd.,, Mumbai on 18 November, 2019
IN THE INCOME TAX APPELLATE TRIBUNAL
AHMEDABAD "C" BENCH
(BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER
& SHRI WASEEM AHMED, ACCOUNTANT MEMBER)
ITA. No: 932/AHD/2016
(Assessment Year: 2002-03)
The Deputy Commissioner V/S Gujarat Cypromet Ltd.
of Income Tax, Circle- Administrative Office: No.
2(1)(1), Ahmedabad 37, 5th Floor, Onlloker
Building, 14, Sir Phiroze
Shah Mehta Road, fort,
Mumbai
(Appellant) (Respondent)
PAN: AAACG 5591R
Appellant by : Shri L.P. Jain, Sr. D.R.
Respondent by : None
(आदे श)/ORDER
Date of hearing : 22 -10-2019
Date of Pronouncement : 18 -11-2019
PER MAHAVIR PRASAD, JUDICIAL MEMBER
1. This appeal filed by the Revenue is directed against the order of the Ld. CIT(A)-2, Ahmedabad dated 15.01.2016 pertaining to A.Y. 2002-03.
2 ITA No. 932/Ahd/2016. A.Y. 2002-03
2. At the time of hearing, it was submitted by the Ld.AR for the assessee that appeal filed by the Revenue is hit by recently issued CBDT Circular No.17 of 2019 dated 08/08/2019 revising the previous thresholds pertaining to tax effects. As per aforesaid Circular, all pending appeals filed by Revenue are liable to be dismissed as a measure for reducing litigation where the tax effect does not exceed the prescribed monetary limit which is now revised at Rs.50 Lakhs. In the instant case, the tax effect on the disputed issues raised by the Revenue is stated to be not exceeding Rs.50 lakhs and therefore appeal of the Revenue is required to be dismissed in limine.
3. The Learned DR for the Revenue fairly admitted the applicability of the CBDT Circular No. 17 of 2019. Accordingly, appeal of the Revenue is dismissed as not maintainable. However, it will be open to the Revenue to seek restoration of its appeal on showing inapplicability of the aforesaid CBDT Circular in any manner.
4. In the result, appeal filed by the Revenue is dismissed.
Order pronounced in Open Court on 18 - 11- 2019
Sd/- Sd/-
(WASEEM AHMED) (MAHAVIR PRASAD)
ACCOUNTANT MEMBER True Copy JUDICIAL MEMBER
Ahmedabad: Dated 18/11/2019
Rajesh
Copy of the Order forwarded to:-
1. The Appellant.
2. The Respondent.
3. The CIT (Appeals) -
4. The CIT concerned.
5. The DR., ITAT, Ahmedabad.