ITO 13(2)(4), Mumbai Sundial Creative Media Pvt. Ltd., Mumbai

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Last updated: 27 May 2021
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The Income Tax Appellate Tribunal (Mumbai) has dismissed an appeal filed by the Income Tax Officer (ITO) against Sundial Creative Media Pvt. Ltd. The appeal concerned a penalty of Rs. 11 Lakhs levied under section 271(1)(c) of the Income Tax Act. The tribunal found that the penalty amount was below the monetary threshold of Rs. 50 Lakhs stipulated in CBDT Circular No. 17/2019, rendering the appeal not maintainable. The revenue retains the liberty to seek recall if exceptions apply or the tax effect later exceeds the limit.

Court :
ITAT Mumbai

Brief :
Aforesaid appeal by revenue for Assessment Year [AY] 2007-08 contest the order of Ld. Commissioner of Income-Tax (Appeals)-21, Mumbai [CIT(A)] dated 30/08/2019 which has deleted the penalty of Rs.11 Lacs u/s 271(1)(c) as levied by Ld. AO vide penalty order dated 29/01/2019. 

Citation :
I.T.A. No.7200/Mum/2019

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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