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Showing contexts for: autodesk in The Pr Commissioner Of Income Tax vs M/S Autodesk India Pvt Ltd on 20 July, 2018Matching Fragments
Mr.K.V.Aravind, Adv. for Appellants- Revenue Mr.T.Suryanarayana, Adv. for Respondent - Assessee
1. Both the learned counsels have brought to the notice of this Court that the Central Board of Direct Taxes, Department of Revenue, Ministry of Finance, Government of India, New Delhi, has recently issued a revised Circular No.3/2018, dated 11th July, 2018, revising the monetary limits for filing appeals by the Department before the Income Tax Appellate Tribunal, Date of Order 20-07-2018 I.T.A.No.473/2016 The Pr.Commissioner of Income-Tax, CIT(A) & Anr. Vs. M/s. Autodesk India Pvt. Ltd., High Courts and Supreme Court and the earlier monetary limits for the High Courts is upwardly revised from Rs.20,00,000 to Rs.50,00,000/- w.e.f. 11th July, 2018. The said Circular is quoted below;
Reference is invited to Board's Circular No.21 of 2015 dated 10.12.2015 wherein monetary limits and other conditions for filing departmental appeals (in Income-tax matters) before Income Tax Appellate Tribunal, High Courts and SLPs/ appeals before Supreme Court were specified.
2. In supersession of the above Circular, it has been decided by the Board that departmental Date of Order 20-07-2018 I.T.A.No.473/2016 The Pr.Commissioner of Income-Tax, CIT(A) & Anr. Vs. M/s. Autodesk India Pvt. Ltd., appeals may be filed on merits before Income Tax Appellate Tribunal and High Courts and SLPs/ appeals before Supreme Court keeping in view the monetary limits and conditions specified below.
4. For this purpose, 'tax effect' means the difference between the tax on the total income assessed and the tax that would have been chargeable had such total income been reduced by the amount of income in respect of the issues against which appeal is intended to be filed (hereinafter referred to as 'disputed issues').
Date of Order 20-07-2018 I.T.A.No.473/2016 The Pr.Commissioner of Income-Tax, CIT(A) & Anr. Vs. M/s. Autodesk India Pvt. Ltd., Further, 'tax effect' shall be tax including applicable surcharge and cess. However, the tax will not include any interest thereon, except where chargeability of interest itself is in dispute. In case the chargeability of interest is the issue under dispute, the amount of interest shall be the tax effect. In cases where returned loss is reduced or assessed as income, the tax effect would include notional tax on disputed additions. In case of penalty orders, the tax effect will mean quantum of penalty deleted or reduced in the order to be appealed against.
5. The Assessing Officer shall calculate the tax effect separately for every assessment year in respect of the disputed issues in the case of every assessee. If, in the case of an assessee, the disputed issues arise in more than one assessment year, appeal can be filed in respect of such assessment year or years in which the tax effect in respect of the disputed issues exceeds the monetary limit specified in para 3. No appeal shall be filed in respect of an assessment year or years in which the tax effect is less than the monetary limit specified in para 3. In other words, henceforth, appeals can be filed only with reference to the tax effect in the relevant Date of Order 20-07-2018 I.T.A.No.473/2016 The Pr.Commissioner of Income-Tax, CIT(A) & Anr. Vs. M/s. Autodesk India Pvt. Ltd., assessment year. However, in case of a composite order of any High Court or appellate authority, which involves more than one assessment year and common issues in more than one assessment year, appeals shall be filed in respect of all such assessment years even if the tax effect is less than the prescribed monetary limits in any of the year(s), if it is decided to file appeal in respect of the year(s) in which tax effect exceeds the monetary limit prescribed. In case where a composite order/ judgment involves more than one assessee, each assessee shall be dealt with separately.