What did the Tribunal hold?

The Tribunal noted that both parties agreed to dismiss the Revenue's appeal due to low tax effect. The Assessee also withdrew their cross-objection.

The Revenue filed an appeal, and the Assessee filed a cross-objection against an order of the CIT(A) for the assessment year 2010-11. Both parties agreed that the tax effect in the Revenue's appeal was below the threshold for further appeal.

What were the issues?

The primary issue was the disposition of the Revenue's appeal and the Assessee's cross-objection, with both parties agreeing to their dismissal.

ACIT vs M/S. Karat 87 Inn Pvt. Ltd. | ITAT Delhi 2019

Income Tax Appellate Tribunal, DELHI BENCH: ‘E’, NEW DELHI

Before: SHRI H.S. SIDHU & SHRI ANADEE NATH MISSHRA

The Revenue has filed the Appeal and the Assessee has filed the Cross Objection against the impugned order dated 27.02.2015 passed by the Ld. CIT(A)-24, New Delhi relevant to assessment year 2010-11.

At the time of hearing both the parties agreed that in the aforesaid Revenue Appeal the tax effect involved is less than Rs. 50 lacs and therefore, the same should be dismissed. At the same time, Ld. AR for the assessee also stated that he is withdrawing the Cross Objection by endorsing the remarks on the Form No. 36A i.e. “CO is withdrawn”.

Keeping in view of the statements made by both the parties; in view of the Instructions of CBDT circulated vide Circular No.17/2019 dated 08.08.2019 and after perusing the remarks made by the AR of the assessee on the Form No. 36A of the Cross Objection, the Revenue’s Appeal as well as Assessee’s Cross Objection stand dismissed.

In the result, the Revenue’s Appeal as well as Assessee Cross Objection stand dismissed. The decision is pronounced on 04.12.2019.

ACIT, NEW DELHI vs. M/S. KARAT 87 INN PVT. LTD., DELHI

What did the Tribunal hold?

What were the facts?

What were the issues?

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