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| The Tax Publishers2019 TaxPub(DT) 8400 (Mum-Trib) INCOME TAX ACT, 1961
Section 254(1)
Where the tax effect involved in the appeals filed by the Department before the Tribunal were less than the monetary limit of Rs. 50 Lakhs prescribed by the CBDT Circular No. 17/2019, dated 08-08-2019, appeals were liable to be dismissed on account of low tax effect.
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Appeal (Tribunal) - Maintainability - Low tax effect -
Revenue filed two appeals against the relief allowed by the CIT (A) in transfer pricing adjustment and against the deletion of addition by the CIT (A). Assessee contended that appeals filed by the Revenue were liable to be dismissed on account of low tax effect in the light of the recent CBDT Circular No. 17/2019 dated 08-8-2019. Held: Vide CBDT Circular No. 17/2019, dated 08-08-2019, the monetary limit of tax effect for filing of appeals by the Department before the Tribunal was enhanced from Rs. 20 Lakhs to Rs. 50 Lakhs. And, since the tax effect involved in instant appeals filed by the Revenue were less than the monetary limit prescribed by said Circular, both the appeals were liable to be dismissed on account of low tax effect.
REFERRED :
FAVOUR : In assessee's favour
A.Y. : 2010-11 & 2011-12
INCOME TAX ACT, 1961
Section 254(1)
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