INCOME TAX OFFICER (EXEMPTION) WARD 1(3) DELHI, DELHI vs. BASKETBALL FEDRATION OF INDIA, DELHI

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ITA 162/DEL/2024Status: DisposedITAT Delhi25 November 2024AY 2017-18Bench: MS. MADHUMITA ROY (Judicial Member), SHRI BRAJESH KUMAR SINGH (Accountant Member)3 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 it fell into the category of low tax effect appeals. This decision was based on CBDT Circulars Nos. 5/2024 and 09/2024, which specified an enhanced monetary limit of Rs. 60 lacs for appeals to be filed by the Department. The dismissal included a rider allowing restoration if the issue fell under exceptions or if there was a valid reason.

What were the facts?

The Revenue filed an appeal against an order of the Ld. CIT(Appeals)/NFAC for Assessment Year 2017-18. The appeal involved a tax effect of Rs. 54,04,403/-.

What were the issues?

Whether an appeal filed by the Revenue with a tax effect of Rs. 54,04,403/-, which is below the Rs. 60 lacs monetary limit specified by CBDT Circulars, should be dismissed as a low tax effect appeal.

Which sections of the Income-tax Act were involved?

AI-generated summary — verify with the full judgment below

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

Before: MS. MADHUMITA ROY & SHRI BRAJESH KUMAR SINGH

For Respondent: Shri Amit Katoch, Sr. DR
Hearing: 06.11.2024Pronounced: 25.11.2024

ORDER

PER BRAJESH KUMAR SINGH, ACCOUNTANT MEMBER

1.

This appeal is directed against the order dated 24th November 2023 against the order of the Ld. CIT(Appeals)/NFAC, Delhi pertaining to Assessment Year 2017-18.

Form No.36 of the appeal that the appeal filed by the Revenue, admittedly, has a tax effect of Rs.54,04,403/- and the same falls into the category of low tax effect appeals after the enhanced monetary limits of Rs.60 lacs, for which the appeal is to be filed by the Department before this Tribunal, as laid down by the CBDT vide Circular Nos.5/2024 dated 15.03.2024 and 09/2024 dated 17.09.2024.

3 In the light of the aforesaid, the appeal of the Revenue is dismissed being a low tax effect appeal with a rider that in case the issue falls in the category of exceptions to the low tax effect appeals or if there is any valid reason, the Department shall be entitled for restoration of the appeal.

4.

In the result, the appeal filed by the department is dismissed.

Order pronounced in the open court on 25/11/2024.

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