DCIT, CENTRAL CIRCLE-8, NEW DELHI vs. BHAIJEE OVERSEAS LTD. , DELHI

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ITA 65/DEL/2023Status: DisposedITAT Delhi18 December 2024AY 2010-11Bench: SHRI MAHAVIR SINGH (Vice President), SHRI S RIFAUR RAHMAN (Accountant Member)4 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 dismissed the Revenue's appeal as the tax effect was below the revised monetary limit of Rs. 60,00,000/- for departmental appeals to the ITAT, as per CBDT Circular No. 09 of 2024. Consequently, the Assessee's Cross Objection was dismissed as academic.

What were the facts?

The Revenue filed an appeal and the Assessee filed a Cross Objection against an order of the Commissioner of Income Tax (Appeals) for Assessment Year 2010-11. The tax effect involved in the Revenue's appeal was Rs. 54,07,050/-.

What were the issues?

Whether the Revenue's appeal met the revised monetary limit for filing before the Income Tax Appellate Tribunal as per CBDT Circular No. 09 of 2024.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: ‘A’: NEW DELHI

Before: SHRI MAHAVIR SINGH & SHRI S RIFAUR RAHMAN,

For Appellant: Shri Samir Mahajan, CA
For Respondent: DR Assessee by : Shri Samir Mahajan, CA
Hearing: 18.12.2024Pronounced: 18.12.2024

This appeal by the Revenue and Cross Objection (C.O.) by the Assessee are arising out of the order of Commissioner of Income Tax (Appeals),-24,New Delhi-110055, in Appeal No. CIT(A), Delhi- 24/10011/2009-10, dated 31.10.2022 for the Assessment Year 2010-11.

2.

At the outset, it is noticed that the grievance of the Revenue shows that the tax effect in this appeal is Rs. 54,07,050/-, which is less than the monetary limit prescribed for filing the appeal before the Tribunal. This appeal pertains to a low tax effect case.

However, the CBDT, in its Circular No. 09 of 2024 dated 17/09/2024, has recently revised the monetary limit for filing of the departmental appeals before the ITAT to Rs. 60,00,000/-. Hence, the appeal is dismissed, and the C.O. has been dismissed as academic.

ITA & C.O. No.- 65/D/23 and 95/D/23 Bhaijee Overseas Ltd. 4. In the result, appeal filed by the Revenue is dismissed, and C.O. by assessee is dismissed as academic.

Order pronounced in the Open Court on 18.12.2024.

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