COMMISSIONER OF INCOME TAX DELHI IV vs. DELHI STOCK EXCHANGE ASSOCIATION LTD.

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ITA/554/2008HC DelhiDLHC01000089200808 September 2025Bench: HON'BLE MR. JUSTICE V. KAMESWAR RAO,HON'BLE MR. JUSTICE VINOD KUMAR2 pages

AI SummaryWithdrawn

What did the High Court hold?

The Delhi High Court, in its order dated September 8, 2025, decided to close the appeal. The reasoning provided is based on the submission made by the appellant's counsel, who, on instructions, acknowledged the respondent's submission. The key factor for closing the appeal was that the tax effect was less than two crores, aligning with the instructions issued by the Central Board of Direct Taxes (CBDT) in Circular No. 09/2024 dated 17.09.2024. The court accepted this submission and consequently ordered the closure of the appeal. No specific issue was left undecided; the appeal was disposed of based on the stated grounds.

What were the facts?

This matter concerns Income Tax Appeal (ITA) No. 554/2008 filed by the Commissioner of Income Tax (CIT) Delhi IV against Delhi Stock Exchange Association Ltd. The appeal was filed challenging an order, the details of which are not specified in this judgment. The procedural history indicates that an application for early hearing and dismissal of the appeal was filed by the respondent. The appellant's counsel, on instructions, acknowledged the respondent's submission regarding the tax effect of the appeal. The tax effect was stated to be less than two crores.

What were the issues?

1. Whether the appeal should be closed in terms of CBDT Circular No. 09/2024 dated 17.09.2024, considering the tax effect is less than two crores? (Question of law) Assessee's Contention: The respondent (assessee) argued that the appeal should be dismissed/closed. The judgment does not explicitly record the respondent's arguments beyond acknowledging their submission by the appellant. Revenue's Contention: The appellant (revenue) submitted that the tax effect in the appeal is less than two crores and, therefore, the appeal needs to be closed in accordance with CBDT Circular No. 09/2024. The appellant's counsel, on instructions, acknowledged the respondent's submission.

AI-generated summary — verify with the full judgment below

$~1 * IN THE HIGH COURT OF DELHI AT NEW DELHI + ITA 554/2008 COMMISSIONER OF INCOME TAX DELHI IV .....Appellant Through: Mr. Ruchir Bhatia, SSC, Mr. Anant Mann, Mr. P. Gupta, JSCs. versus DELHI STOCK EXCHANGE ASSOCIATION LTD. .....Respondent Through: Mr. Ved Jain, Mr. Nischay Kantoor and Ms. Soniya Dodeja, Advs. CORAM: HON'BLE MR. JUSTICE V. KAMESWAR RAO HON'BLE MR. JUSTICE VINOD KUMAR O R D E R %

08.09.2025 CM APPL. 51587/2025 1. This is an application seeking early hearing and dismissal of the present appeal. For the reasons stated in the application, early hearing of appeal is allowed. 2. The application is disposed of. ITA 554/2008 3. The submission of the learned counsel for appellant is that the tax effect in the appeal is less than two crores and as such the same needs to be closed in terms of the instructions issued by the Central Board of Direct Tax (CBDT) Circular No. 09/2024 dated 17.09.2024. 4. The learned counsel for the appellant on instructions, acknowledges the submission made by the learned counsel for the respondent. This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 17/09/2025 at 14:20:56

If that be so, the appeal is closed. V. KAMESWAR RAO, J VINOD KUMAR, J SEPTEMBER 8, 2025 ss This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 17/09/2025 at 14:20:56

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