DCIT, NEW DELHI vs. M/S. ESTEEM FINVENTURES LTD., DELHI

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ITA 282/DEL/2011Status: DisposedITAT Delhi01 October 2019AY 2002-033 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 Tribunal noted that the CBDT circular revised the monetary limit for filing appeals to Rs. 50 Lacs and this applied to pending appeals. Therefore, the appeal was not maintainable.

What were the facts?

The Revenue filed an appeal before the ITAT against an order passed under section 147/143(3) for AY 2002-03. The appeal was filed when the tax effect was below Rs. 50 Lacs.

What were the issues?

Maintainability of an appeal filed by the Revenue before the ITAT when the tax effect is below the revised monetary limit prescribed by CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 147,Section 143(3)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘B’ NEW DELHI

Before: MS. SUSHMA CHOWLA & SHRI B.R.R.KUMAR

For Appellant: Ms. Nidhi Srivastava, CIT DR
For Respondent: Ms. Somya Jain, CA &, Ms. Tejasvi Jain, CA
Hearing: 01.10.2019Pronounced: 01.10.2019

आदेश / ORDER आदेश आदेश आदेश PER SUSHMA CHOWLA, JM: The appeal filed by Revenue is against order of CIT(A)-XIII, New Delhi, dated 09.11.2010 relating to assessment year 2002-03 against the order passed under section 147/143(3) of the Income-tax Act, 1961 (in short ‘the Act’).

1.

ITA No:282/Del/2011 Assessment Year: 2002-03 2. However, Ld. DR for the Revenue pointed out that the present appeal is to be withdrawn as the tax effect involved in the case is below Rs.50 Lacs.

3.

The CBDT vide Circular No.17/2019 dated 08.08.2019 has revised the monetary limit for filing the appeals before the Tribunal to Rs.50 Lacs. Further, CBDT vide letter dated 20.08.2019 has also clarified that Circular No.17/2019 would be applicable to all pending appeals. In such circumstances, the present appeal filed by the Revenue in case of low tax effect is not maintainable.

4.

Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribunal for re-institution of appeal, if the requisite material is brought to show that the appeal is protected by the exceptions prescribed in para 10 of the Circular dated 11.07.2018.

5.

In conclusion, by applying the CBDT Circular dated 08.08.2019 and letter dated 20.08.2019 (supra), the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.

6.

In the result, the appeal of Revenue is dismissed.

Order pronounced in the open court on 01st day of October, 2019.

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