DCIT, CIRCLE-24(2), NEW DELHI vs. SUGAM VANIJYA HOLDINGS P.LTD, BENGLURU

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ITA 585/DEL/2020Status: DisposedITAT Delhi16 January 2023AY 2010-112 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the revenue's appeal as the tax effect was below the threshold stipulated in CBDT Circular No. 17/2019. The revenue was granted liberty to approach the Tribunal if the tax effect exceeded Rs. 50 lakhs.

What were the facts?

The revenue's appeal was against the CIT(A)'s order for AY 2010-11. The appeal involved the deletion of an addition of Rs. 87,0301/-.

What were the issues?

The primary issue was whether the revenue's appeal should be dismissed based on the tax effect and CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘G’, NEW DELHI

Before: SH. N. K. BILLAIYA & SH. ANUBHAV SHARMA

Hearing: 16/01/2023Pronounced: 16/01/2023

Appellant by Sh. H. K. Choudhary, CIT DR Respondent by Sh. Rishab Malhotra, Advocate Date of hearing: 16/01/2023 Date of Pronouncement: 16/01/2023 ORDER

PER N. K. BILLAIYA, AM:

1.

This appeal by the revenue is preferred against the order of the CIT(A)-8, New Delhi dated 01.11.2019 pertaining to A.Y.2010- 11.

2.

The solitary grievance of the revenue involves deletion of the addition of Rs.87,0301/-. The tax effect involved is Rs.295820/-, therefore, this appeal by the revenue has to be dismissed in the light of the CBDT Circular No. 17/2019 dated 08.08.2019. 3. This appeal is, accordingly, dismissed with liberty to the revenue to approach the Tribunal as per the provisions of law, should it feel that the tax effect is more than Rs. 50 lakhs.

4.

In the result, the appeal filed by the revenue is dismissed.

5.

The order is pronounced in the open court on 16.01.2023.

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