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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/-.
Held
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.
Key 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.
Sections Cited
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Income Tax Appellate Tribunal, DELHI BENCH: ‘H’ NEW DELHI
Before: MS. MADHUMITA ROY & SHRI BRAJESH KUMAR SINGH
ORDER
PER BRAJESH KUMAR SINGH, ACCOUNTANT MEMBER
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.
In the result, the appeal filed by the department is dismissed.
Order pronounced in the open court on 25/11/2024.