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Income Tax Appellate Tribunal, DELHI BENCH “D”: NEW DELHI
Before: SHRI G.D. AGRAWAL, HON’BLE & SHRI AMIT SHUKLA
This is an appeal filed by the Revenue directed against the order of Ld. Commissioner of Income Tax (Appeals)-V dated 02.12.2014 pertaining to the assessment year 2011-12.
1.1. The Ld. Counsel for the assessee at the outset submitted that the tax effect in this appeal by the Revenue does not exceed the monetary limit of Rs. 10 lakhs specified in Circular No. 21/2015 dated 10th December, 2015, F. No. 279/Misc./142/2007-ITJ(Pt.) gave following working of tax on the disputed issue:-
Tax Calculation Gross Tax Rs. 19,54,365 Rebate Surcharge Education Cess Rs. 58,631 Tax credit u/s 115JAA/115JD Relief u/s 89(1) / u/s 90 /u/s 91 Net Tax Rs. 20,12,996 Tax calculated @ 18% on Book Profit is more hence tax is calculated u/s 115JB Tax Due Rs. 12,45,632 Educational Cess Rs. 37,369 ___________ Rs. 12,83,001 Net Tax Effect Rs. 20,12,996/- - Rs. 12,83,001/- = Rs. 7,29,995
Ld. DR also did not object to above calculation.
In view of the above fact, we are of the opinion that tax effect is below the prescribed limit as per circular, hence revenue appeal is not maintainable as per the said circular. Further this CBDT Circular, at para 10 specifies that the Instruction will apply retrospectively, to all pending appeals.
3.1 Hence we dismiss this appeal filed by the Revenue on the ground that the tax effect in the present appeal does not exceed the monetary limit specified by the CBDT Circular No. 21/2015 dated 10th December, 2015, F.No. 279/Misc./142/2007-ITJ(Pt.) and hence not maintainable.
In the result Revenue’s appeal is dismissed.
Order pronounced in the Open Court on 18th June, 2018.