ITO, WARD-1(1), BURDWAN, BURDWAN vs. BURDWAN DEVELOPMENT AUTHORITY, BURDWAN

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ITA 2129/KOL/2014Status: DisposedITAT Kolkata15 March 2021AY 2007-20082 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 tax effect was below the CBDT's monetary limit for appeals. Following CBDT Circular No. 17/2019, the Tribunal treated the appeal as withdrawn or not pressed.

What were the facts?

The Revenue appealed against the CIT(A)'s deletion of additions made on account of sale of development rights. The tax effect involved in the appeal was below the monetary limit prescribed by the CBDT for filing appeals.

What were the issues?

Whether the appeal filed by the Revenue is maintainable before the Tribunal given the low tax effect, in light of CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH, KOLKATA

Before: Shri P.M. Jagtap, Vice- & Shri A.T. Varkey

Per Shri P.M. Jagtap, Vice-President:- This appeal is preferred by the Revenue against the order of ld. Commissioner of Income Tax (Appeals), Asansol dated 18.09.2014 and the solitary issue involved therein relates to the deletions by the ld. CIT(Appeals) of the additions of Rs.87,09,570/- and Rs.33,00,000/- made by the Assessing Officer on account of sale of development rights.

2.

At the outset, the ld. Counsel for the assessee has pointed out that the tax effect involved in this appeal of the Revenue is less than the monetary limit of Rs.50,00,000/- fixed by the C.B.D.T. for filing the appeal by the Revenue before the Tribunal and this position is not disputed even by the ld. D.R. In the Circular No. 17/2019 dated 8th August, 2019 issued Assessment Year: 2007-2008 Burdwan Development Authority by the C.B.D.T., the monetary limit for filing the appeal by Revenue before the Tribunal is revised to Rs.50,00,000/-. As further clarified in the said Circular, the monetary limit so revised is applicable even to the pending appeals and the same are directed to be withdrawn or not pressed. We accordingly treat this appeal as withdrawn /not pressed on account of low tax effect in view of the CBDT Circular No.17/2019 dated 8th August, 2019 and dismiss the same.

3.

In the result, the appeal filed by the Revenue is dismissed. Order pronounced in the open Court on March 15, 2021.

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