INCOME TAX OFFICER, CHENNAI vs. MS. FIVES INDIA ENGINEERING AND PROJECTS PVT LTD, CHENNAI

This is an appeal preferred by the Revenue against the order of the Learned Commissioner of Income Tax (Appeals), (hereinafter referred to as ‘Ld.CIT(A)‘), Chennai-16, dated 16.10.2023 for the Assessment Year (hereinafter referred to as ‘AY‘) 2012-13 & CO No.8/Chny/2024 is a Cross-Objection filed by the assessee against the AY 2012-13.

At the outset, the Ld.AR of the assessee drew our attention to Form No.36 filed by the Revenue and pointed out that the tax effect involved in this appeal as shown by the department is only to the tune of ₹57,70,136/- which according to him, is undisputedly below the threshold limit prescribed by the Central Board of Direct Taxes (hereinafter in short ‘CBDT’), Department of Revenue, Ministry of Finance, Government of India vide Circular No.09 of 2024 dated 17.09.2024, wherein, the CBDT has revised the monetary limit for filing appeals before the ITAT from the existing limit of ₹50 lakhs to ₹60 lakhs. Therefore, according to him, the Revenue appeal is not maintainable.

The Ld.DR fairly conceded that per-se this appeal is covered by the aforesaid Circular issued by the CBDT. However, he submitted that in case, this appeal falls in the exceptional clause, the decision may be recalled. This plea of the Revenue will be considered on its merits when occasion arises and we don’t express any such commitments.

Having stated so, and having gone through the order of the Ld.CIT(A) and the grounds of appeals, we find per-se that the tax effect in the captioned appeal is less than ₹60 lakhs. Accordingly, we dismiss the aforesaid appeal filed by the Revenue as not maintainable on the strength of the CBDT Circular (supra).

In the light our action in Revenue appeal, the assessee doesn’t press its Cross-Objection No.8/Chny/2024 and hence, dismissed.

In the result, appeal filed by the Revenue and Cross-Objection filed by the assessee are dismissed.