Assistant Commissioner of Income-tax, Circle - 9, Pune vs M/s. Jayashree Polymers Pvt.Ltd, Pune

आयकर अपीऱीय अधिकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE BEFORE SHRI R.S.

SYAL, VICE PRESIDENT AND SHRI S.S.

VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपीऱ सं. / ITA No.2157/PUN/2017 नििाारण वषा / Assessment Year : 2012-13 The Assistant Commissioner of Income Tax, Circle – 9, Pune .......अऩीऱाथी / Appellant बिाम / V/s.

M/s.

Jayashree Polymers Pvt.

Ltd., 21/4, D-1 Block, MIDC, Chinchwad, Pune – 19 PAN : AAACJ4677K ……प्रत्यथी / Respondent Assessee by : Ms.

Diksha Agarwal Revenue by : Shri Pankaj Garg सुनवाई की तारीख / Date of Hearing : 17-09-2019 घोषणा की तारीख / Date of Pronouncement : 19-09-2019 आदेश / ORDER PER S.S.

VISWANETHRA RAVI, JM : This appeal by the Revenue against the order dated 22-05-2017 passed by the Commissioner of Income Tax (Appeals)-6, Pune for assessment year 2012-13.

2 ITA No.2157/PUN/2017, A.Y.

2012-13 2.

The Ld.

AR, Ms.

Diksha Agarwal submitted at the outset that the appeal of Revenue is liable to be dismissed on account of low tax effect in terms of recent CBDT Circular No.

17/2019, dated 08-08-2019.

AR submitted that the Department in appeal assailing the findings of Commissioner of Income Tax (Appeals) in allowing deduction u/s.

80IA of the Act to an extent of Rs.53,50,487/-.

3.

DR, Shri Pankaj Garg fairly admitted that in the present appeal by the Department tax effect is less than Rs.50 Lakhs.

4.

Heard both parties and perused the materials available on record.

AR submitted that the Department in appeal has assailing the findings of Commissioner of Income Tax (Appeals) in allowing deduction u/s.

80IA of the Act ignoring the specific provisions of section 80IA(5) of the Act.

Undisputedly, the tax effect involved in appeal is less than the monetary limit prescribed by the recent CBDT Circular No.

17/2019, dated 08-08-2019 for filing of appeals before the Tribunal by the Department.

The CBDT vide circular dated 08-08-2019 (supra) has amended Para 3 of Circular No. rcular No.

3 of 2018 dated 11-07-2018 thereby enhancing monetary limit of tax effect from Rs.20 Lakhs to Rs.50 Lakhs for filing of appeals by the Department before the Tribunal.

Thus, without going into merit of the issues raised in the appeal, in view of the CBDT Circular (supra) the present appeal of the Revenue is dismissed on account of low tax effect.

5.

Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribunal for restoration of appeal, with the requisite material 3 ITA No.2157/PUN/2017, A.Y.

2012-13 to show that the appeal is protected by the exceptions prescribed in Para 10 of the Circular dated 11-07-2018 and its amendment dated 20-08-2018.

6.

In the result, appeal of the Revenue is dismissed.

Order pronounced in the open court on 19th September, 2019.

Sd/- Sd/- (R.S.

Syal) (S.S.

Viswanethra Ravi) VICE PRESIDENT JUDICIAL MEMBER ऩुणे / Pune; ददनाांक / Dated : 19th September, 2019 RK आदेश की प्रनिलऱपप अग्रेपषि / Copy of the Order forwarded to : 1. अऩीऱाथी / The Appellant.

2. प्रत्यथी / The Respondent.

3. आयकर आयुक्त (अऩीऱ) / The CIT(A)-6, Pune 4.

The Pr.

Commissioner of Income Tax-5, Pune 5. ववभागीय प्रतततनधध, आयकर अऩीऱीय अधधकरण, “बी” बेंच, ऩुणे / DR, ITAT, “B” Bench, Pune.

6. गार्ड फ़ाइऱ / Guard File. //सत्यावऩत प्रतत// True Copy// आदेशानुसार / BY ORDER, तनजी सधचव / Private Secretary, आयकर अऩीऱीय अधधकरण, ऩुणे / ITAT, Pune