ACIT, NEW DELHI vs. M/S. NIRGUNA BALIK SATSANG MANDAL (INDIA), NEW DELHI

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ITA 67/DEL/2017Status: DisposedITAT Delhi04 July 2019AY 2007-084 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 held that the appeal filed by the Revenue must be dismissed in light of CBDT Circular No. 3/2018, which revised the monetary limit for filing appeals before the ITAT to Rs. 20 lakhs. Pending appeals below this limit were to be withdrawn or not pressed.

What were the facts?

The Revenue preferred an appeal against the CIT(A)'s order deleting an addition of Rs. 6,75,740/- on account of interest on foreign bank deposits. The tax effect in this appeal was less than Rs. 20 lakhs.

What were the issues?

Whether the Revenue's appeal, with a tax effect below the revised monetary limit set by CBDT Circular No. 3/2018, should be dismissed.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI ‘E’ BENCH,

Before: SHRI N.K. BILLAIYA, & MS. SUCHITRA KAMBLE

Hearing: 04.07.2019Pronounced: 04.07.2019

PER N.K. BILLAIYA, ACCOUNTANT MEMBER:

1.

This appeal by the Revenue is preferred against the order of the ld. CIT(A) – 31, New Delhi dated 25.10.2016 pertaining to A.Y 2007-08.

2.

The solitary grievance of the Revenue is that the CIT(A) erred in deleting the addition of Rs. 6,75,740/- on account of interest on foreign bank deposits.

3.

The grievance of the Revenue itself shows that the tax effect in this appeal is less than Rs. 20 lakhs. This appeal by the Revenue has to be dismissed in the light of the CBDT Circular No. 3/2018 dated 11.07.2018 by which the Board has revised the monetary limit for filing of appeals by the department before the ITAT and the monetary limit has been fixed at Rs. 20 lakhs. The Board at Clause 13 of the said Circular has clarified as under:

“This Circular will apply to SLPs/appeals/cross objections/references to be filed henceforth in Supreme Court/High Court/Tribunal and it shall also apply retrospectively to pending SLPs/appeals/cross objections/ references. The pending appeals below the specified tax limit in para 3 above may be withdrawn/not pressed.”

4.

In the light of the aforesaid CBDT Circular, the appeal filed by the Revenue is dismissed.

5.

In the result, the appeal of the revenue in is dismissed.

The order is pronounced in the open court on 04.07.2019.

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