ITAT Mumbai Rejects Revenue Appeals as Income Tax Effect Falls Below CBDT Limit

ITO Vs Heera C. Gujrani (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai, adjudicated revenue appeals for Assessment Years 2009–10 and 2010–11 against orders of the Commissioner of Income-tax (Appeals). At the outset, the assessee submitted that the tax effect involved in both appeals was below the prescribed monetary threshold of ₹50 lakh as per CBDT Circular No. 17/2019 dated 08.08.2019. Supporting computations were placed before the Tribunal. The Departmental Representative did not dispute the tax effect but argued that the additions related to alleged bogus purchases ba...