TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>ITAT dismisses appeals with tax effect below Rs. 50 lakhs under CBDT Circular 17/2019, allows recall for exceptions</h1> <h3>The DCIT, Central Circle-III, Ludhiana Versus M/s NKP Abasan Pvt. Ltd.,</h3> The DCIT, Central Circle-III, Ludhiana Versus M/s NKP Abasan Pvt. Ltd., - TMI Issues Involved:1. Tax effect threshold for filing appeals.2. Application of CBDT Circular No. 17/2019 to pending appeals.Summary:Issue 1: Tax Effect Threshold for Filing AppealsThis is Revenue's appeal against the order of the ld. CIT(A)-5, Ludhiana, dated 30.11.2016, for the Assessment Year 2012-13. The ld. Counsel for the assessee pointed out that the tax effect involved in this appeal is less than the monetary limit prescribed by the CBDT. The records confirmed that the tax effect does not exceed Rs. 50 lakhs, making the appeal non-maintainable under CBDT's Circular No. 17/2019, dated 8th August, 2019.Issue 2: Application of CBDT Circular No. 17/2019 to Pending AppealsThe Central Board of Direct Taxes (CBDT) issued Circular No. 17/2019, enhancing the monetary limits for filing appeals to Rs. 50 lakhs for the Tribunal, Rs. 1 crore for the High Court, and Rs. 2 crores for the Supreme Court. This circular is not standalone and modifies Circular No. 3/2018, which applies retrospectively to pending appeals. The Tribunal, referencing the Ahmedabad Bench's decision, held that the circular applies to both future and pending appeals. The Tribunal dismissed the Revenue's appeal due to the low tax effect, granting liberty to the parties to move the Tribunal if any error in tax effect computation or exceptions apply.Conclusion:The appeal of the Revenue was dismissed for low tax effect, in accordance with the CBDT Circular No. 17/2019.
TaxTMI 
TaxTMI 
