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Facts
The Revenue filed an appeal for assessment year 2008-09 against an order of the CIT(A) involving proceedings under sections 153C r.w.s. 143(3) of the Income-tax Act, 1961. The tax effect involved in this appeal was Rs. 50,73,384/-.
Held
The Tribunal dismissed the Revenue's appeal because the tax effect was below the minimum threshold of Rs. 60 lakhs prescribed by CBDT Circular No. 9/2024, dated 17.09.2024. This circular applies with retrospective effect to all pending appeals, a fact not disputed by the Departmental Representative.
Key Issues
Whether the Revenue's appeal is maintainable given that the tax effect involved is below the monetary limit stipulated by a retrospective CBDT circular.
Sections Cited
153C, 143(3)
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Income Tax Appellate Tribunal, DELHI BENCH: ‘G’ NEW DELHI
Before: SHRI SATBEER SINGH GODARA & SHRI AVDHESH KUMAR MISHRA
This Revenue’s appeal for assessment year 2008-09 is directed against the Commissioner of Income Tax (Appeals)-27 [in short, the “CIT(A)”], New Delhi’s order dated 29.09.2015 passed in case no. 251/14-15, involving proceedings under sections 153C r.w.s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties at length. Case file perused.