ITO, NEW DELHI vs. M/S. SI VIRIDIAN (I) MANAGEMENT PVT. LTD., NEW DELHI

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ITA 4627/DEL/2014Status: DisposedITAT Delhi19 July 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 noted that the tax effect was below the monetary limit prescribed by CBDT Circular No. 21/2015. Therefore, the appeal should have been withdrawn or not pressed by the Revenue.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for AY 2011-12. The tax effect of the appeal, concerning a disallowance of depreciation, was calculated to be Rs. 19,49,196/-.

What were the issues?

Whether the Revenue's appeal should be entertained given the low tax effect, as per CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 268A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘G’ NEW DELHI

Before: SHRI G.D. AGRAWAL, HON’BLE & SHRI SUDHANSHU SRIVASTAVA

For Appellant: Shri Vivek Aggarwal, CA
For Respondent: Shri K. Tewari, Sr. DR, Shri Vivek Aggarwal, CA
Hearing: 19.07.2018Pronounced: 19.07.2018

PER SUDHANSHU SRIVASTAVA, J.M. The appeal filed by the Revenue is directed against the order passed by the ld. CIT(A)-XI, New Delhi dated 23.06.2014 for A.Y. 2011-12.

1.

1.2 At the outset, it was submitted by the ld. AR that the tax effect in the present appeal is less than Rs.20 lacs as the issue involved is only disallowance of depreciation of Rs.59,13,821/-.

The calculation of tax effect submitted by the ld. AR is as under:-

Total addition : Rs. 59,13,821/- Tax (@30%) : Rs. 18,92,423/- Education & higher : Rs. 56,773/- education cess Total Tax Effect : Rs. 19,49,196/- 1.3 In terms of CBDT Circular No. 21/2015 dated 10th December, 2015, F. No. 279/Misc./142/2007-ITJ(Pt.) read with Section 268 A of the Income Tax Act, 1961, this appeal by the Revenue should have been withdrawn or should not have been pressed by the Revenue.

2.

In view of the above, this appeal by the Revenue is dismissed in limine.

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