ITO, NEW DELHI vs. NEELKANTH TRAVELS (P) LTD., NEW DELHI

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ITA 179/DEL/2016Status: DisposedITAT Delhi08 December 2021AY 2006-073 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 noted that the tax effect of the appeal was less than Rs. 50 lakhs. Therefore, as per CBDT Circular No. 17/2019, the appeal was not maintainable.

What were the facts?

The revenue filed an appeal against the CIT(A)'s order deleting an addition of Rs. 84,50,000 made under Section 68 of the Income Tax Act. The assessment year in question is 2006-07.

What were the issues?

The primary issue was the maintainability of the revenue's appeal before the Tribunal due to insufficient tax effect as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 68

AI-generated summary — verify with the full judgment below

Before: SH. AAKASH DEEP JAIN & SH. N. K. BILLAIYA

Hearing: 08/12/2021Pronounced: 08/12/2021

This appeal by the revenue is preferred against the order of the CIT(A)-42, New Delhi dated 26.10.2015 pertaining to A.Y.

2006-07.

2.

The sum and substance of the grievance of the revenue is that the CIT(A) erred in deleting the addition ofRs.84,50 lacs u/s. 68 of the Act.

3.

A perusal of the grievance of the revenue shows that the tax effect would be less than Rs. 50 lakhs, therefore, this appeal is not maintainable as per CBDT Circular No.17/2019 dated 08.08.2019.

4.

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.

5.

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

6.

Decision announced in the open court in the presence of Ld. CIT DR on 08.12.2021.

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