INCOME TAX OFFICER, INCOME TAX OFFICE, BARGARH vs. TORA SERVICE COOPERATIVE SOCIETY LIMITED, TORA SCS LTD

None appeared for appeared for the assessee and Shri S.C.Mohanty, Sr. S.C.Mohanty, Sr. DR appeared for the revenue. appeared for the revenue.

When this matte When this matter was taken up for adjudication, it was pointed out it was pointed out to ld Sr DR that to ld Sr DR that in this appeal the tax effect is Rs.30,09,065/ this appeal the tax effect is Rs.30,09,065/-, which is below than the monetary limit prescribed vide Circular No.09/2024 dated below than the monetary limit prescribed vide Circular No.09/2024 dated below than the monetary limit prescribed vide Circular No.09/2024 dated P a g e 1 | 3 17.9.2024 issued by the Central Board Direct Taxes, wherein, it is stipulated that appeals shall not be filed/pursued by the Department before the Tribunal in cases where the tax effect does not exceed Rs.60,00,000/- (Rupees sixty lakhs).

In reply, the ld. Sr DR did not dispute applicability of the recent CBDT circular and also tax effect being below Rs.60 lakhs in the assessee's case. He, however, left the issue to the Tribunal to pass appropriate order in the matter.

We have considered the rival submissions and perused the CBDT Instruction. We are of the view that the present appeal of the Revenue falls within the purview of the CBDT Instruction cited (supra). It is not disputed by the Revenue that tax effect on the disputed addition is Rs. 30,09,065/-, which is less than Rs.60 lakhs, and therefore, keeping in view the above CBDT circular and provisions of section 268A of the Income Tax Act, we are of the view that the present appeal of the Revenue deserves to be dismissed. It is accordingly dismissed.