ITO, NEW DELHI vs. SH. ISHWAR CHAND BANSAL, NEW DELHI

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ITA 6412/DEL/2015Status: DisposedITAT Delhi01 August 2018AY 2011-123 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 held that the Revenue's appeal was not maintainable due to the tax effect being below the monetary limit specified in the CBDT circular. The assessee did not press their cross-objection.

What were the facts?

The Revenue filed an appeal before the ITAT, and the assessee filed a cross-objection. The Revenue's appeal involved a tax effect below Rs. 20 lakhs.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal based on the tax effect and the applicability of the CBDT circular. The maintainability of the assessee's cross-objection was also an issue.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH “B”, NEW DELHI

Before: SHRI R. K. PANDA & SMT. BEENA A. PILLAI

For Appellant: Shri N. K. Goel, CA, Shri Yashu Goel, CA
For Respondent: Shri Vijay Kr. Jiwani, Sr.DR, Shri N. K. Goel, CA, Shri Yashu Goel, CA

Heard together (2 matters)

C.O. No.485/Del/2015
ITA No.6412/Del/2015

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

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 :

1.

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.

2.

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.

3.

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.

4.

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) :

5.

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.

6.

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.

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