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Facts
The Revenue filed an appeal against an order of the learned CIT(A). The tax effect involved in this appeal was ₹55,61,613/-. Subsequently, the CBDT, vide Circular No.09/2024 dated 17th September, 2024, revised the monetary limit for filing appeals before the Tribunal to ₹60 lakhs.
Held
The Tribunal observed that the tax effect in the Revenue's appeal (₹55,61,613/-) was below the revised monetary limit of ₹60 lakhs. Therefore, in accordance with the CBDT Circular, the appeal was deemed not maintainable and was dismissed.
Key Issues
Whether the Revenue's appeal is maintainable before the Tribunal when the tax effect is below the revised monetary limit set by a CBDT circular.
Sections Cited
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Income Tax Appellate Tribunal, IN THE INCOME TAX APPELLATE TRIBUNAL
Before: SHRI MAHAVIR SINGH SHRI MAHAVIR SINGH, , , , VICE SHRI MAHAVIR SINGH & SHRI NAVEEN CHANDRA, ACCOUNTANT SHRI NAVEEN CHANDRA SHRI NAVEEN CHANDRA
This appeal by the Revenue is arising out of the order of learned CIT(A), Delhi dated 25th June, 2024.
It is observed that the tax effect in this appeal of the Revenue is `55,61,613/-. The CBDT, vide Circular No.09/2024 dated 17th September, 2024 has revised the monetary limit for filing the appeals before the Tribunal to `60 lakhs. In these circumstances, the present appeal filed by the Revenue is not maintainable in view of the above Circular of CBDT, and is accordingly dismissed.
In the result, the appeal of the Revenue is dismissed. Above decision was pronounced in the open Court on conclusion of hearing on 3rd December, 2024.