ACIT, CIRCLE- 14(2), NEW DELHI vs. K L CONCAST PVT. LTD., NEW DELHI

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ITA 5525/DEL/2017Status: DisposedITAT Delhi29 November 2018AY 2013-144 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 Revenue's appeal based on CBDT Circular No. 3/2018, which sets a monetary limit of Rs. 20 lakhs for filing appeals. The assessee's cross-objection was also dismissed due to non-prosecution.

What were the facts?

The Revenue appealed against the deletion of an addition of Rs. 39.60 lakhs by the CIT(A). The assessee filed a cross-objection. The tax effect of the Revenue's appeal was less than Rs. 20 lakhs.

What were the issues?

Whether the Revenue's appeal should be dismissed due to not meeting the revised monetary limit for appeals as per CBDT Circular. Whether the assessee's cross-objection should be dismissed for non-prosecution.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI ‘D’ BENCH,

Before: SHRI N.K. BILLAIYA, & SHRI KULDIP SINGH

Hearing: 27.11.2018Pronounced: 29.11.2018

Heard together (2 matters)

CO No. 219/DEL/2017
ITA No. 5525/DEL/2017

Read from the judgment's own cause title. This page is filed under one of them.

ORDER PER N.K. BILLAIYA, AM:-

This appeal by the Revenue and cross objection by the assessee are preferred against the order of the Commissioner of Income Tax [Appeals] – 5, Delhi dated 30.06.2017 pertaining to assessment year 2013-14.

2.

The sole grievance of the Revenue is that the CIT(A) erred in deleting the addition amounting to Rs. 39.60 lakhs.

3.

The grievance of the assessee itself shows that the tax effect 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 The pending appeals below the specified tax limit in para 3 above may be withdrawn/not pressed.”

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

4.

Since none appeared on behalf of the assessee, it seems that the assessee is not interest in prosecuting the matter. Accordingly, the cross objection filed by the assessee is dismissed.

5.

In the result, the appeal of the Revenue as well as the cross objection of the assessee stand dismissed.

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