DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-13, NEW DELHI, JHANDEWALAN vs. WISMORE EQUITY PVT. LTD., DELHI

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ITA 3495/DEL/2024Status: DisposedITAT Delhi20 November 2024Bench: the Tribunal to Rs.60 Lacs. In such circumstances, the present appeal filed by the Revenue in case of low tax effect is not maintainable. 3. In conclusion, by applying the CBDT Circular No.09/2024 dated 17/09/2024 (supra), the captioned appeal of the Revenue is dismissed as withdrawn/not pressed. 4. In the result, the appeal of the Revenue is dismissed. Order pronounced on 20th November, 2024. (SHAMIM YAHYA) ACCOUNTANT MEMBER (VIMAL KUMAR) (Judicial Member)2 pages
AI SummaryWithdrawn

What did the Tribunal hold?

The Tribunal held that the Department's appeal was not maintainable due to the low tax effect, in light of the new monetary limits prescribed by CBDT Circular No.09/2024. Accordingly, the appeal was dismissed as withdrawn/not pressed.

What were the facts?

The Department filed an appeal against an order of the CIT(A) for Assessment Year 2012-13, originating from an assessment under sections 153C r.w.s. 143(3) of the Income Tax Act, 1961. The appeal's tax effect was below the revised monetary limit of Rs.60 Lacs for filing appeals before the Tribunal, as per CBDT Circular No.09/2024 dated 17/09/2024.

What were the issues?

The key issue was the maintainability of the Revenue's appeal before the Tribunal, given that its tax effect fell below the monetary limit stipulated by CBDT Circular No.09/2024.

Which sections of the Income-tax Act were involved?

Section 153C,Section 143(3)

AI-generated summary — verify with the full judgment below

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

For Appellant: Shri Kapil Goel, Advocate
For Respondent: Shri Sanjay Pandey, CIT-DR
Hearing: 13/11/2024Pronounced: 20/11/2024

O R D E R

PER VIMAL KUMAR, JM:

1.

The appeal filed by the Department is against order dated 14/05/2024 of Learned Commissioner of Income Tax (Appeals)-26, New Delhi [hereinafter referred to as ‘Ld. CIT(A)’] arising out of Assessment Order dated 28/12/2018 of Learned Assistant Commissioner of Income Tax, Central Circle-13, New Delhi (herein after referred as ‘Ld. AO’) u/s 153C r.w.s.143(3) of the Income Tax Act, 1961 [hereinafter referred to as “the Act”] for the Assessment Year 2012-13.

DCIT vs. Wismore Equity Pvt. Ltd. 2. We find that CBDT vide Circular No.09/2024 dated 17/09/2024 has revised the monetary limit for filing the appeals before the Tribunal to Rs.60 Lacs. In such circumstances, the present appeal filed by the Revenue in case of low tax effect is not maintainable. 3. In conclusion, by applying the CBDT Circular No.09/2024 dated 17/09/2024 (supra), the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.

4.

In the result, the appeal of the Revenue is dismissed. Order pronounced on 20th November, 2024.

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