T HE INCOME TAX APPELLATE TRIBUNAL D BENCH, MUMBAI SHRI SHAMIM YAHYA ( A M) & SHRI RAMLAL NEGI (JM) I.T.A. NO. 6477 /MUM/ 201 6 (ASSESSMENT YEAR 2012 - 13 ) ACIT 4(3)(1) ROOM NO. 649 6 TH FLOOR AAYAKAR BHAVAN M.K. ROAD MUMBAI - 400 020. V S . M/S. RIALTO EXI M PVT. LTD. 907, 9 TH FLOOR JEWEL WORLD, KALBADEVI ROAD, ZAVERI BAZAR MUMBAI - 400 002. PAN : AAECR8915L ( APPELLANT ) ( RESPONDENT ) ASSESSEE BY NONE DEPARTMENT BY SHRI V. VINOD KUMAR DATE OF HEARING 08.09 . 20 20 DATE OF PRONOUNCEMENT 08 .09 . 20 20 O R D E R PER SHAMIM YAHYA (AM) : - THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(A) DATED 5.8.2016 AND PERTAINS TO ASSESSMENT YEAR 2012 - 13. 2. THE GROUND OF APPEAL READ S AS UNDER : - ON THE FACTS AND CIRCUMSTANCES OF THE CASE LD. CIT(A) HAS ERRED IN DIRECTING THE ASSESSING OFFICER TO ALLOW THE CLAIM OF DEDUCTION CLAIMED BY ASSESSEE OF RS. 66,86,557/ - U/S. 10AA OF THE I.T. ACT, 1961 IN RESPECT OF PROFITS ARISING OUT OF TRADING ACTIVITIES, WHEREAS THE CONDITIONS LAID DOWN BY THIS SECTION HAVE NOT BEEN SATISFIED . 3. AT THE OUTSET IT IS NOTED THAT THE TAX EFFECT IS BELOW THE LIMIT OF RS. 50 LAKHS FIXED BY THE CBDT VIDE LATEST CIRCULAR NO. 17/2019 DATED 8.8.2019 FOR FILING THE APPEAL BEFORE THE ITAT. HENCE, THIS APPEAL BY T HE REVENUE IS NOT MAINTAINABLE. LEARNED DEPARTMENTAL REPRESENTATIVE COULD NOT DISPUTE THAT THE TAX EFFECT IS BELOW THE SAID LIMIT . M/S. RIALTO EXIM PVT. LTD. 2 4. UPON CAREFUL CONSIDERATION, WE FIND THAT AS THE TAX EFFECT IS BELOW THE LIMIT FIXED BY THE CBDT FOR FIL ING THE APPEAL S BEFORE THE ITAT, THI S APPEAL BY THE REVENUE IS LIABLE TO BE DISMISSED IN LIMINE. 5. ACCORDINGLY, THE APPEAL STANDS DISMISSED AS SUCH. SD/ - SD/ - (RAMLAL NEGI ) (SH A MIM YAHYA ) JUDICIAL MEMBER ACCOUNTANT MEMBER MUMBAI ; DATED : 08 / 0 9 / 20 20 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. BY ORDER, //TRUE COPY// ( ASSISTANT REG ISTRAR ) PS ITAT, MUMBAI