Departmental appeal rejected by ITAT as monetary tax amount less than 50 Lakhs

Jurisdictional Income-tax Officer Vs Elphinstone Paper Box Manufacturing Co. (ITAT Mumbai)

Held that tax effect in the departmental appeal is less than Rs. 50 Lakhs as revised vide circular dated 08/08/2019. Appeal rejected.

Facts-

In the present appeal by the revenue, it has agitated deleting of additions which was made by AO alleging the purchases made from one of the parties namely M/s Bigwin Paper Distributor Private Limited as bogus.

Assessee contended that the issues of appeals are being covered by the tax effects Circular issued by the Central Board of Direct Taxes (CBDT) and the appeals of the Department are not maintainable because the monetary tax effect is less than 50 lakhs.

Please become a member. If you are already a member, login here to access the full content.