DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, LUDHIANA , LUDHIANA vs. BINDER SINGH , BATHINDA

At the outset the Ld. AR had pointed out that the tax effect in this appeal of the Revenue is below Rs. 60,00,000/- and our reference was drawn to the Form No. 36 filed by the Revenue with the tax effect has been mentioned at Rs. 50,05,800. It was submitted that on account of the CBDT Circular No.09/2024 dated 17.09.2024 the appeal of the Revenue is required to be dismissed.

1 Ld. DR had not disputed the tax effect in the matter.

2 In view of the fact that the tax effect in the appeal of the Revenue is below the threshold limit prescribed by the CBDT. We dismiss the appeal of the Revenue.

The Ld AR has submitted that the assessee has also preferred a Cross Objection against the order passed by the Ld. CIT(A) on the following grounds:

That the Ld. CIT(A)-5, Ludhiana has erred in the eyes of law as well on the facts in in confirming the action of the Assessing Officer in taxing the surrender on account of building amount of Rs. 50,00,000/- u/s 69 read with section 115BBE of the Income Tax Act, 1961. 2. That the Ld. CIT (A) has failed to appreciate the various judgments of the Juri ictional Bench of the ITAT, Chandigarh Bench in many cases, where the amount offered during survey under similar circumstances have been taxed at the normal rate of tax.

That the Ld. CIT(A) has failed to appreciate that during the course of survey, no other income was noticed by the department and, as such, taxing the amount offered as deemed income, is against the facts and circumstances of the case.

That the respondent craves leave to add or amend any grounds of appeal before the appeal is finally heard or disposed off.

The Ld. DR has no objection for withdrawing the Cross Objection.

We have heard the rival contention and perused the material available on the record. In the present case the C.O has been preferred by the assessee in the appeal preferred by the Revenue, on the grounds raised therein. In our respectful understanding grounds urged by the assessee are required to be urged by way of separate appeal, and not by way of a Cross Objection. In view of the above we deem it appropriate to grant the liberty to the assessee to withdraw the cross objection. The assessee may prefer the substantive appeal against the order of the Ld. CIT(A) in accordance with law. Needless to say alongwith the appeal the assessee may filed the condonation application, which may be considered by the Bench sympathetically considering the withdrawal of the cross objection by the assessee, on its own merits, and in accordance with law.

In light of the above the Cross Objection filed by the Assessee is dismissed.

In the result, appeal filed by the Revenue and Cross Objection filed by the Assessee stand dismissed.

अपीलाथŎ/ The Appellant 2. ŮȑथŎ/ The Respondent 3. आयकर आयुƅ/ CIT 4. आयकर आयुƅ (अपील)/ The CIT(A) 5. िवभागीय Ůितिनिध, आयकर अपीलीय आिधकरण, चǷीगढ़/ DR, ITAT, CHANDIGARH 6. गाडŊ फाईल/ Guard File