ACIT, CIRCLE KARNAL, KARNAL vs. LIBERTY SHOES LTD., KARNAL

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ITA 7124/DEL/2017Status: DisposedITAT Delhi11 April 2019AY 2010-113 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The Tribunal dismissed the Department's appeal as withdrawn. This was based on the Department's application citing the low tax effect and the relevant circular.

What were the facts?

The Department appealed against the deletion of an addition made under Section 14A. The tax effect in the appeal was below Rs. 20 lakhs.

What were the issues?

Whether the Department's appeal should be withdrawn due to low tax effect as per circular guidelines.

Which sections of the Income-tax Act were involved?

Section 14A

AI-generated summary — verify with the full judgment below

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

Before: SHRI G.D. AGRAWAL & SHRI BHAVNESH SAINI

Hearing: 11.04.2019Pronounced: 11.04.2019

ORDER PER SHRI BHAVNESH SAINI, J.M.

The Departmental appeal has been directed against the order of Ld. CIT(Appeals), Karnal dated 17.10.2016 for AY 2010-11, challenging the deletion of addition of Rs. 62,75,472/- u/s 14A of the I.T. Act.

2.

The Addl. CIT, Karnal has moved the application dated 08.04.2019 stating therein that the tax effect in the Departmental appeal is below Rs. 20 lakhs and, as such, the Departmental appeal shall have to be withdrawn in view of vide Circular No. 3/2018. It is prayed in the application that Departmental appeal may be dismissed as withdrawn accordingly. The letter is placed on record.

3.

In view of the above, since the tax effect in the Departmental appeal is below Rs. 20 lakhs, therefore, Departmental appeal is dismissed as withdrawn.

Order pronounced in the open court on 11.04.2019

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