The ACIT, Kochi V. M/s.Cochin Aircraft Maintenance Co. Ltd, Kochi

ITA 117/COCH/2020

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 8284 (ITAT-COCHIN)
• Duration Of Justice: 2 year(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-02-2022
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2006-2007
• Appeal Filed On: 16-02-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 268A

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN Before Shri George Mathan, JM & Shri Ramit Kochar, AM ITA No. 117/Coch/2020 (Assessment Year: 2006-07) ACIT, Corporate Circle 1(1) 4th Floor, C.R. Building I.S. Press Road Kochi 682018 Vs. M/s. Cochin Aircraft Maintenance Co. Ltd. 28/3357A, Cherupushpam Lane-2, I.S. Press Road Kochi 682018 PAN – AACCC6379B Appellant Respondent Appellant by: None Respondent by: Smt. J.M. Jamuna Devi, Sr. D.R Date of Hearing: 23.02.2022 Date of Pronouncement: 23.02.2022 O R D E R Per: George Mathan, JM This is an appeal filed by the Revenue against the order of the learned CIT(A)–1, Kochi in appeal No. ITA 3/R-I/E/CIT-(A)-I/2012-13 dated 16.12.2019 for AY 2006-07. 2. At the very outset, it is observed that the tax effect in the appeal filed by the Revenue is less than Rs.50 lakhs, and therefore, the Circular No. 17/2019 dated 8 th August, 2019, issued by the Central Board of Direct Taxes (CBDT) in exercise of its power vested under Sec. 268A 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 2 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. 50 lakhs, appeal should not be filed. Thus, taking a note of CBDT Circular No. 17/2019 dated 8 th August, 2019 and considering the fact that the tax effect in the instant appeal is less than Rs.50 lakhs, the present appeal ITA No. 117/Coch/2020 M/s. Cochin Aircraft Maintenance Co. Ltd. 2 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 falls 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.17/2019 dated 08 th August, 2019, the appeal stands dismissed. Dictated and pronounced in the open Court on 23 rd February, 2022. Sd/- Sd/- (Ramit Kochar) (George Mathan) Accountant Member Judicial Member Cochin, Dated: 23 rd February, 2022 Copy to: 1. The Appellant 2. The Respondent 3. The CIT(A) -1, Kochi 4. The Pr.CIT - Kochi 5. The DR, ITAT, Cochin 6. Guard File By Order //True Copy// Assistant Registrar ITAT, Cochin n.p.