ACIT, NEW DELHI vs. M/S ELEL HOTEL & INVESTMENT LTD.,, NEW DELHI

The only effective ground raised by the revenue reads as under :-

On the facts and in the circumstances of the case, the Ld. CIT(A) has erred in law and facts in deleting the addition of Rs.50,74,700/- made by the AO on account of income accrued from ITC Ltd. by not appreciating the facts of the case.

The Ld. Counsel for the assessee at the outset submitted that the tax effect involved in the ground of appeal raised by the revenue is below Rs. 50 laksh. Therefore, in view of the CBDT circular No. 17/2019 dated 08.08.2019 the appeal filed by the revenue is not maintainable.

The Ld. CIT DR on the other hand fairly conceded that the tax effect involved in the ground raised by the revenue is below Rs. 50 lacs.

After hearing both the sides we find the tax effect involved in the ground raised by the Revenue is admittedly below Rs.50 lakhs. Therefore, in view of the latest CBDT Circular No.17/2019 dated 8th August, 2019 raising the monetary limits for filing of the appeals by the Revenue before the Tribunal to Rs.50 lakhs and the subsequent clarification dated 20th August, 2019 to the effect that the said Circular is applicable even to pending appeals, the appeal filed by the Revenue is not maintainable. Accordingly, the same is dismissed.