ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(2), KOLKATA, KOLKATA vs. ESKAG PHARMA PVT. LTD., KOLKATA

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ITA 2311/KOL/2024Status: DisposedITAT Kolkata15 January 2025Bench: SRI SANJAY GARG, JUDICIAL MEMBER & SRI SANJAY AWASTHI, ACCOUNTANT MEMBER Ι.Τ.Α. No.: 2311/KOL/2024 Assessment Year: 2019-20 A.C.I.T, Central Cir-3(2), Kolkata Appellant Vs. ......... Respondent Eskag Pharma Pvt. Ltd. AG-112, Sector II, Salt Lake City, North 24 Parganas, Salt Lake, Sech Bhawan S.O. West Bengal-700091. (PAN: AAACE5646H) Appearances: Appellant represented by : Shri Rajeeva Kumar, Advocate Respondent represented by : Shri P. N. Barnwal, CIT, DR Date of concluding the hearing : 2 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 Income Tax Appellate Tribunal dismissed the Revenue's appeal. It was held that, in accordance with CBDT Circular No. 09/2024, which applies retrospectively, appeals with a tax effect below the prescribed monetary limit of Rs. 60 lakh are not maintainable.

What were the facts?

The Revenue filed an appeal against the order of the Commissioner of Income Tax (Appeals) for the Assessment Year 2019-20. The tax effect involved in the disputed additions was found to be less than Rs. 60 lakh, as per the latest CBDT Circular.

What were the issues?

Whether the Revenue's appeal is maintainable when the tax effect is below the monetary limit prescribed by CBDT Circular No. 09/2024.

Which sections of the Income-tax Act were involved?

Section 268A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘B’ BENCH, KOLKATA

Before: SRI SANJAY GARG & SRI SANJAY AWASTHI

For Appellant: Shri Rajeeva Kumar, Advocate
For Respondent: Shri P. N. Barnwal, CIT, DR

order

: 15.01.2025 ORDER

Per Sanjay Garg, Judicial Member:

1.

The present appeal filed by the Revenue is directed against the order dated 16.07.2024 of the Commissioner of Income Tax (Appeals), Kolkata-21 [hereinafter referred to as Ld. 'CIT(A)'] for Assessment Year 2019-20.

I.T.A. No.: 2311/KOL/2024 Assessment Year: 2019-20 Eskag Pharma Pvt. Ltd.

2.

It is seen, at the outset, 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 appeals by the Revenue before this Tribunal. 2.1. This circular prescribes that the revised monetary limits shall apply retrospectively to pending appeals as well.

3.

The Ld. DR has fairly admitted that tax effect involved in this appeal is less than the prescribed monetary limit of Rs. 60 lakh.

4.

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).

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