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Facts
The Revenue and the Assessee filed cross-appeals against the order of the CIT(A) for Assessment Year 2011-2012. The Assessee's counsel submitted that the tax effect involved in the Revenue's grounds was below Rs. 60 lakhs, making the appeal non-maintainable as per CBDT circular.
Held
The Tribunal noted that both parties agreed the tax effect was below Rs. 60 lakhs. Consequently, the Revenue's appeal was dismissed as not maintainable, and the Assessee's appeal was also dismissed.
Key Issues
Whether the Revenue's appeal is maintainable given the tax effect is below the threshold prescribed by the CBDT circular.
Sections Cited
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, PUNE “B” BENCH : PUNE
Before: SHRI RAMA KANTA PANDA & MS. ASTHA CHANDRA
Assessee are directed against the order dated 08.03.2024 of the learned CIT(A), Pune-12, Pune, for assessment year 2011- 2012. For the sake of convenience, both the appeals were heard together and are being disposed of by this consolidated order.
2 ITA.Nos.1308 & 2146/PUN./2024
The Learned Counsel for the Assessee, at the outset, submitted that the tax effect involved in the grounds raised by the Revenue is below Rs.60 lakhs. He accordingly submitted that the appeal filed by the Revenue is not maintainable as per CBDT’s latest Circular no.F.No.279/Misc./M-74/2024-ITJ dated 17.09.2024 wherein the CBDT has prescribed the tax limit up-to 60 lakhs even for the pending appeals before the Tribunal. He submitted that he does not want to press the appeal filed by the assessee.
The Learned DR fairly conceded that the tax effect involved in the grounds of appeal raised by the Revenue is below Rs.60 lakhs.
In view of the above submissions made by both the sides and considering the fact that the tax effect involved in the Revenue’s appeal is admittedly below Rs.60 lakhs, the appeal of the Revenue is dismissed being not maintainable.
The appeal filed by the Assessee is also dismissed in view of the submission of the Learned Counsel for the assessee.
In the result, appeal filed by the Revenue and appeal filed by the Assessee are dismissed. A copy of this common order be placed in the respective case files.
3 ITA.Nos.1308 & 2146/PUN./2024
Order pronounced in the open court on 24.01.2025.