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Facts
The Department of Revenue filed an appeal against the order of the Ld. CIT(A) dated 11/05/2023, which pertained to an assessment order passed by the Ld. AO on 31/12/2019 for the Assessment Year 2017-18.
Held
The Income Tax Appellate Tribunal observed that CBDT Circular No.09/2024, dated 17/09/2024, set a revised monetary limit of Rs.60 Lacs for filing appeals. As the present appeal by the Revenue had a low tax effect falling below this threshold, the Tribunal concluded it was not maintainable.
Key Issues
The maintainability of the Revenue's appeal before the Tribunal in light of the revised monetary limits for tax effect prescribed by CBDT Circular No.09/2024.
Sections Cited
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Income Tax Appellate Tribunal, DELHI BENCH ‘E’: NEW DELHI
The appeal of the Department of Revenue is against order dated 11/05/2023 of Learned Commissioner of Income Tax (Appeals)-26, New Delhi [hereinafter referred to as ‘Ld. CIT(A)’]arising out of Assessment Order dated 31/12/2019 of the Assistant Commissioner of Income Tax, Central Circle-15, Delhi[hereinafter referred to as “Ld. AO”] for the Assessment Year 2017-18. Page1 DCIT vs. M/s. Henell Fine Collection Pvt. Ltd.
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.
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by applying the CBDT Circular No.09/2024 dated 17/09/2024 (supra), the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.
In the result, the appeal of the Revenue is dismissed.
Order pronounced on 12th November, 2024.