Liberty given to revenue to seek recall of the appeal under VSVS 2020.

Last updated: 02 March 2021
Quick Summary
The Income Tax Appellate Tribunal has dismissed an appeal filed by the revenue concerning assessment year 2015-16. The dismissal is based on a CBDT circular regarding low tax effect, as the disputed amount was below the prescribed threshold of Rs. 50 Lacs. However, the revenue has been granted liberty to request a recall of the appeal if it's later found to fall under exceptions or if the tax effect exceeds the monetary limit.

Court :
ITAT Mumbai

Brief :
Aforesaid appeal by revenue for Assessment Year [in short referred to as ‘AY’] 2015-16 contest the order of Ld. Commissionerof Income-Tax (Appeals)-8, Mumbai [in short referred to as ‘CIT(A)’], Appeal No.CIT(A)-8/IT-20/17-18, dated 25/03/2019 which has deleted certain disallowance of Rs.83.94 Lacs u/s 14A.

Citation :
I.T.A. No.3856/Mum/2019

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