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Facts
The Revenue filed an appeal against the CIT(A)'s deletion of additions under sections 68 and 69C of the Income Tax Act. The total tax effect for this appeal was Rs. 55,44,204/-, which is below the Rs. 60 lakhs monetary limit for departmental appeals to the ITAT as per CBDT Circular No. 09/2024.
Held
The Tribunal, noting that the tax effect was below the prescribed monetary limit and with the Ld. DR's agreement, dismissed the Revenue's appeal. The appeal was deemed not maintainable in light of the latest CBDT Circular dated 17.09.2024.
Key Issues
Maintainability of the Revenue's appeal before the ITAT due to the tax effect being below the CBDT's prescribed monetary limit.
Sections Cited
68, 69C
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, DELHI BENCH “H”, NEW DELHI
A.YR. : 2016-17 DCIT, CENTRAL CIRCLE-26, M/S SHRI RAM HARI RAM, ROOM NO. 323, E-2, ARA CENTRE, VS. 1658-59, DARIBA KALAN, JHANDEWALAN EXTN.N, CHANDNI CHOWK, NEW DELHI – 110055 DELHI – 110 006 (PAN: AADFS7036D) (APPELLANT) (RESPONDENT) Appellant by : Sh. Ashu Goel, CA Respondent by : Sh. Sanjey Pandey, CIT(DR) Date of hearing : 13.11.2024 Date of pronouncement : 13.11.2024 ORDER
PER SHAMIM YAHYA, AM :
The Revenue has filed the instant Appeal against the Order of the Ld. CIT(Appeal-29), New Delhi dated 28.6.2021, relating to assessment year 2016- 17 on the following ground:- “
On the facts and in the circumstances of the case the ld. CIT(A) has erred in law and on facts in deleting the addition of Rs. 1,70,00,000/- made by AO on account of undisclosed income u/s. 68 and Rs. 9,42,411/- made on account of unexplained expenditure u/s. 69C of the I.T. Act, 1961.”
2. At the time of hearing, Ld. AR for the assessee has submitted that the tax effect in this appeal of the Revenue is below Rs. 60 lakhs. In this behalf, he drew our attention towards Form No. 36 dated 05.06.2021 filed by the Revenue, wherein it has been mentioned that the total tax effect in this case is Rs. 55,44,204/-. He also filed a copy of CBDT Circular No.09/2024 dated 17.09.2024 wherein, the CBDT has revised the monetary limit for filing of the departmental appeals to the ITAT at Rs. 60 lakhs. In view of this, he requested that the Revenue’s appeal may be dismissed accordingly.
At the time of hearing, Ld. DR fairly agreed that the tax effect in this appeal of the Revenue is below the prescribed limit.
In view of the above position, we deem it fit and proper to dismiss the appeal of the Revenue in the light of the latest Circular No.09/2024 of the CBDT dated 17.09.2024, as not maintainable.
In the result, the appeal of the Revenue is dismissed. Order pronounced on 13/11/2024.