ITO (E), WARD-2(3), NEW DELHI vs. TIMES CENTRE FOR MEDIA AND MANAGEMENT, NEW DELHI

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ITA 7444/DEL/2017Status: DisposedITAT Delhi28 February 2022AY 2014-153 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 found that the tax effect of the disputed amount was below the monetary limit of Rs. 50,00,000 prescribed by CBDT circular. Therefore, the appeal was deemed withdrawn.

What were the facts?

The Revenue filed an appeal against the assessee for the assessment year 2014-15. The assessee argued that the tax effect of the disputed amount was below the monetary limit for appeals. The Revenue's counsel conceded to this fact.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal due to the tax effect being below the prescribed monetary limit.

Which sections of the Income-tax Act were involved?

Not Applicable

AI-generated summary — verify with the full judgment below

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

Before: SHRI SAKTIJIT DEY & DR. BRR KUMAR

For Respondent: Shri H.K. Chaudhary, CIT(DR), Shri Ved Jain & Shri Ashish
Hearing: 28.02.2022Pronounced: 28.02.2022

Revenue by Shri H.K. Chaudhary, CIT(DR) Respondent by S/Shri Ved Jain & Shri Ashish Sachdeva, Adv. Date of hearing 28.02.2022 Date of pronouncement 28.02.2022 ORDER

PER SAKTIJIT DEY : JUDICIAL MEMBER

1.

This is an appeal by the Revenue against order dated 28.09.2017 of learned Commissioner of Income-Tax(Appeals)-40, Delhi, pertaining to the assessment year 2014-15.

2.

At the outset, learned counsel for the assessee submitted that the tax effect on the amount disputed by the Revenue in the appeal is below the monetary limit of Rs.50,00,000. Thus, he submitted that the appeal of the Revenue is not maintainable.

3.

Learned Departmental Representative fairly accepted the aforesaid factual position.

4.

We have considered rival submissions and perused the material available on record. We find that the quantum of dispute in the present appeal is an amount of Rs.40,45,109.

5.

Undisputedly, the tax effect on the quantum disputed works out to Rs.13,74,933, which is much below the monetary limit of Rs.50,00,000 fixed for filing of appeal before Income-Tax Appellate Tribunal, in terms of Circular No. 17/2019 of CBDT dated 8th August 2019.

6.

In view of the aforesaid, the present appeal of the Revenue is deemed to have been withdrawn and accordingly dismissed.

7.

In the result, the appeal is dismissed.

Order pronounced in the open court on 28.02.2022.

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