ACIT, NEW DELHI vs. M/S KAIRAV NON-WOVEN P. LTD., DELHI

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ITA 1191/DEL/2016Status: DisposedITAT Delhi16 August 2018AY 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 dismissed the Revenue's appeals based on a CBDT circular revising the monetary limit for appeals to Rs. 20 lakhs. The assessee's cross-objection was rendered otiose.

What were the facts?

The Revenue filed appeals before the ITAT for assessment years 2006-07 and 2007-08. The assessee also filed a cross-objection. The appeals were filed prior to a revised monetary limit for departmental appeals.

What were the issues?

Whether the Revenue's appeals should be dismissed in light of a revised CBDT circular on monetary limits for appeals.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI ‘E’ BENCH,

Before: SMT DIVA SINGH, & SHRI N.K. BILLAIYA

For Appellant: Shri Lalit Mohan, CA
Hearing: 16.08.2018Pronounced: 16.08.2018

Heard together (2 matters)

CO No. 181/DEL/2016
ITA Nos. 1190 /DEL/2016

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

These two appeals by the Revenue and cross objection by the assessee are preferred against the common order of the Commissioner of Income Tax [Appeals] – XXVI, New Delhi dated 03.12.2015 pertaining to assessment years 2006-07 & 2007-08.

2.

These two appeals by the Revenue have 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 The pending appeals below the specified tax limit in para 3 above may be withdrawn/not pressed.”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 appeals filed by the Revenue are dismissed. The cross objection filed by the assessee has become otiose.

The order is pronounced in the open court on 16.08.2018.

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