DCIT, NEW DELHI vs. SH. K.C. MITTAL, HARYANA

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ITA 361/DEL/2015Status: DisposedITAT Delhi02 August 2018AY 2011-122 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The Tribunal dismissed the Revenue's appeal as withdrawn/not pressed. This was based on the assessee's submission and the Revenue's non-dispute of the tax effect threshold stipulated in CBDT Circular No. 3/2018.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order deleting a penalty imposed under Section 271AAA. The assessee argued that the Revenue's appeal should be dismissed based on a CBDT circular regarding tax effect thresholds.

What were the issues?

Whether the Revenue's appeal should be dismissed based on a CBDT circular limiting appeals with a tax effect below a certain threshold.

Which sections of the Income-tax Act were involved?

Section 271AAA

AI-generated summary — verify with the full judgment below

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

Before: SMT DIVA SINGH & SHRI PRASHANT MAHARISHIShri K.C. Mittal,

For Appellant: Shri P.C. Yadav, Advocate
For Respondent: Shri Amit Jain, Sr. DR
Hearing: 30.07.2018Pronounced: 02.08.2018

PER DIVA SINGH, JUDICIAL MEMBER :

1.

The present appeal has been filed by the Revenue assailing the correctness of the order dated 11.09.2014 of CIT (A) (Central), Gurgaon pertaining to 2011-12 assessment year on the following grounds :- “1. Whether on the facts and circumstances of the case & in law, the Ld. CIT (A) has erred in deleting the penalty imposed u/s 271AAA of Rs.15,50,000/- ignoring the fact that the assessee was specifically asked to explain the source of undisclosed income and assessee failed to avail the opportunity.

2. That the order of the Ld. CIT (A) is erroneous and is not tenable on facts and in law.”

2.

At the time of hearing, it was submitted by the ld. AR for the assessee that the appeal of the Revenue is to be dismissed in terms of the CBDT Circular No.3/2018 dated 11th July, 2018 vide which the Revenue has been directed not to prefer any appeal in case the tax effect is less than Rs.20,00,000/-. Considering the record, ld. Senior DR did not dispute this fact.

3.

In the light of the submissions made by the parties before the Bench and considering the material available on record, we find that the prayer of ld. AR has to be allowed which position on facts has not been disputed by the ld. Senior DR also. Accordingly, the appeal of the Revenue is dismissed as withdrawn / not pressed. 5. In the result, the appeal of the Revenue is dismissed. Order pronounced in open court on this 2nd day of August, 2018.

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