INCOME TAX OFFICER, INCOME TAX OFFICE, BARGARH vs. TORA SERVICE COOPERATIVE SOCIETY LIMITED, TORA SCS LTD
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Income Tax Appellate Tribunal, IN THE INCOME TAX APPELLATE TRIBUNAL,
Before: BEFORE SHRI GEORGE MATHANMANISH AGARWAL
IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, IN THE INCOME TAX APPELLATE TRIBUNAL, CUTTACK BENCH, CUTTACK BEFORE BEFORE SHRI GEORGE MATHAN, JUDICIAL MEMBER MEMBER AND MANISH AGARWAL MANISH AGARWAL, ACCOUNTANT MEMBER , ACCOUNTANT MEMBER ITA No.367/CTK/2024 Assessment Year :2020-2021 Income Tax Officer, Naidu Income Tax Officer, Naidu Vs. Tora Tora Service Service Cooperative Cooperative Sankul Sankul Building, Building, Railway Railway Socieity Limited, Tora SCS Socieity Limited, Tora SCS Station Road, Bargarh Station Road, Bargarh Ltd., PO: Tora, Bargarh Ltd., PO: Tora, Bargarh PAN/GIR No. No.AACAT 1501 E (Appellant (Appellant) .. ( Respondent Respondent) Assessee by : None Revenue by : Shri S.C.Mohanty, Sr DR DR Date of Hearing : 24/9/202 24 Date of Pronouncement : 24/9/20 024 O R D E R Per Bench This is an appeal filed by the revenue an appeal filed by the revenue against the order of the ld against the order of the ld CIT(A), NFAC, Delhi dated CIT(A), NFAC, Delhi dated 16.7.2024 in Appeal No. in Appeal No.NFAC/2019- 20/10175034 for the assessment year for the assessment year 2020-2021.
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.
In the result, appeal of the Revenue is dismissed due to low tax effect. 6.
Order dictated and pronounced in the open court on 24/9/2024.` Sd/- sd/- (Manish Agarwal) (George Mathan) ACCOUNTANT MEMBER JUDICIAL MEMBER Cuttack; Dated 24/9/2024 B.K.Parida, SPS (OS) P a g e 2 | 3
Copy of the Order forwarded to : 1. The appellant;Income Tax Officer, Naidu Sankul Building, Railway Station Road, Bargarh 2. The Respondent: Tora Service Cooperative Socieity Limited, Tora SCS Ltd., PO: Tora, Bargarh 3. The CIT(A)- NFAC, Delhi 4. Pr.CIT, Sambalpur 5. DR, ITAT, 6. Guard file. By order //True Copy//
Sr.Pvt.Secretary ITAT, CUTTACK
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