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Income Tax Appellate Tribunal, DELHI BENCH “B”, NEW DELHI
Before: SHRI R. K. PANDA & SMT. BEENA A. PILLAI
Department by : Shri Vijay Kr. Jiwani, Sr.DR Assessee by : Shri N. K. Goel, CA Shri Yashu Goel, CA : 01-08-2018 Date of hearing : 01-08-2018 Date of pronouncement O R D E R
PER R. K. PANDA, AM :
The appeal filed by the Revenue is directed against the order dated 07.09.2015 of the CIT(A)- 14, New Delhi relating to assessment year 2011-12. The assessee has filed the Cross Objection against the appeal filed by the Revenue. For the sake of convenience, these were heard together and are being disposed of by this common order.
The ld. counsel for the assessee at the outset submitted that the tax effect involved in the grounds raised by the Revenue is below Rs.20 lakhs. Therefore, in view of the latest CBDT Circular No.03/2018 [F.No.279/Misc.142/2007-ITJ (Pt)] dated 11th July, 2018, the appeal filed by the Revenue is not maintainable.
The ld. DR on the other hand fairly conceded that the tax effect involved in the grounds raised by the Revenue is admittedly below Rs.20 lakhs.
We have heard the rival submissions made by both the sides. It is an admitted fact that the tax effect involved in the grounds raised by the Revenue is less than Rs.20 lakhs. Therefore, in view of the latest CBDT Circular cited (supra) raising the monetary limits for filing of the appeals before the Tribunal which is applicable even to pending appeals, the appeals filed by the Revenue are dismissed. Thus, the appeal filed by the Revenue is dismissed.
C.O. No.485/Del/2015 (By assessee) :
The ld. counsel for the assessee at the time of hearing did not press the Cross Objection filed by the assessee for which ld. DR has no objection.
Accordingly, the Cross Objection is dismissed as not pressed.
In the result, the appeal filed by the Revenue and the Cross Objection filed by the assessee are dismissed.
Order pronounced in the open Court at the time of hearing itself i.e. on this 01st August, 2018.