ITO,WARD-4(4),KOLKATA, KOLKATA vs. PAULMECH HOSPITALITY (P)LTD., KOLKATA
Before: SHRI GEORGE MATHAN & SHRI SANJAY AWASTHIAssessment Year: 2014-15
Per Bench : The captioned appeal by the revenue and the Cross Objection by the assessee are against the order of the Ld. Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as “the Ld. CIT(A)”] vide order no. ITBA/NFAC/S/250/2023- C.O. No. 7/Kol/2025 Paulmech Hospitality Pvt. Ltd. AY: 2014-15
24/1057920808(1) dated 14.11.2023 passed u/s. 250 of the Income Tax
Act, 1961 (hereinafter referred to as “the Act”) for AY 2014-15. 2. Smt. Amuldeep Kaur, JCIT appeared on behalf of the revenue and Shri Akash Mannsinka, AR appeared on behalf of the assessee.
3. It is seen, at the outset, in this case that the tax effect on the disputed additions before us is less than Rs. 60 lakh as prescribed in the CBDT’s latest Circular No. 09/2024 dated 17.09.2024 for filing appeal by the Revenue before this Tribunal. A computation of Tax effect under appeal is placed on file which is reproduced as under:
This circular prescribes that the revised monetary limits shall apply retrospectively to pending appeals as well. 4. The Ld. DR has fairly admitted that tax effect involved in this appeal is less than the prescribed monetary limit of Rs. 60 lakh. 5. In view of above stated position, this appeal of the Revenue is dismissed u/s 268A of the Act because of low tax effect than the prescribed limits as per CBDT Circular No. 09/2024 (supra). 6. At the time of hearing, Ld. Counsel for the assessee prayed before the Bench to withdraw the Cross Objection. Hence, the Cross Objection filed by the assessee stands dismissed as withdrawn. C.O. No. 7/Kol/2025 Paulmech Hospitality Pvt. Ltd. AY: 2014-15
In the result, the appeal of the revenue is dismissed and Cross Objection of the assessee is dismissed. Order dictated and pronounced in the open court. (Sanjay Awasthi) Judicial Member
Dated: 24th March, 2025
JD, Sr. P.S.
Copy to:
1. The Appellant: ITO, Ward-4(4), Kolkata.
2. The Respondent. Paulmech Hospitality Pvt. Ltd.
3. CIT(A), NFAC, Delhi
4. Pr. CIT
5. DR, ITAT, Kolkata Bench, Kolkata
Guard file.By Order