ACIT, NEW DELHI vs. M/S SAGE METALS LTD, NEW DELHI

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ITA 1770/DEL/2015Status: DisposedITAT Delhi18 July 2018AY 2010-113 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 in terms of CBDT Circular No. 3/2018, the appeal should not have been pressed by the Revenue. Therefore, the appeal was dismissed in limine.

What were the facts?

The Revenue preferred an appeal against the CIT(A)'s order for AY 2010-11. The tax effect of the appeal was calculated to be below the monetary limit prescribed by CBDT Circular No. 3/2018.

What were the issues?

Whether the appeal filed by the Revenue should be dismissed due to 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 Anunav Kumar, Adv
For Respondent: Shri K. Tewari, Sr. DR, Shri Anunav Kumar, Adv
Hearing: 16.07.2018Pronounced: 18.07.2018

order of the ld. CIT(A)-8, New Delhi dated 8.1.2015 for assessment year 2010-11.

2.

The computation of tax effect has been submitted on behalf of the assessee as under:- “COMPUTATION OF TAX EFFECT

Addition made under the normal provision of Income Tax Act - On account of foreign travelling expenses Rs. 16,12,941/-

Tax on above @ 33.33% Rs.5,37,593/-

Addition made under MAT provision u/s 115JB On account of Gratuity Rs.51,72,000/- - On account of leave Encashment Rs.4,49,000/- Rs.56,21,000/-

Tax on above @ 16.99% Rs. 9,55,008/- TOTAL Rs.14,92,601/-”

2.1 Admittedly, the tax effect in this appeal is below the monetary limit of Rs. 20 lakhs.

2.2 In terms of CBDT Circular No. 3/2018 dated 11th July, 2018 read with Section 268 A of the Income Tax Act, 1961, this appeal by the Revenue should have been withdrawn or should not have been pressed by the Revenue.

3.

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

Order pronounced in the Open Court on 18th July, 2018.

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