DCIT, CIRCLE- 1, LTU, NEW DELHI vs. C & S ELECTRIC LTD., NEW DELHI

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ITA 8066/DEL/2018Status: DisposedITAT Delhi17 October 2024AY 2012-13Bench: SHRI ANUBHAV SHARMA (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 on the grounds of low tax effect, in accordance with CBDT Circulars, but included a rider allowing for restoration of the appeal if specific exceptions apply or for valid reasons. Concurrently, the assessee's Cross Objection was also dismissed following its withdrawal.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for Assessment Year 2012-13, and the assessee filed a Cross Objection. It was brought to the Tribunal's notice that the Revenue's appeal had a tax effect of Rs. 58,21,082/-, which falls below the enhanced monetary limit of Rs. 60 lacs for low tax effect appeals as per CBDT Circulars. Subsequently, the assessee withdrew its Cross Objection.

What were the issues?

Whether the Revenue's appeal, having a tax effect below the prescribed monetary limit, should be dismissed, and the status of the assessee's withdrawn Cross Objection.

Which sections of the Income-tax Act were involved?

Section 80IC,Section 10AA,Section 14A

AI-generated summary — verify with the full judgment below

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

Before: SHRI ANUBHAV SHARMA & SHRI BRAJESH KUMAR SINGH

For Appellant: Shri Anil Bhalla, AR
For Respondent: DR Assessee by Shri Anil Bhalla, AR
Hearing: 17.10.2024Pronounced: 17.10.2024

Date of Hearing 17.10.2024 Date of Pronouncement 17.10.2024 ORDER PER BRAJESH KUMAR SINGH, AM,

This appeal filed by the Revenue is directed against the order dated 28.09.2018 of the Ld. Commissioner of Income Tax (Appeals)-44, New Delhi, relating to Assessment Year 2012-13 and the assessee has filed Cross Objection.

2.

At the time of hearing, it was brought to the notice of this Bench by the ld. AR that the appeal filed by the Revenue, admittedly, has a tax effect of Rs.58,21,082/- (as per the chart submitted by the ld. AR) 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. The chart submitted by the Ld. AR is reproduced as under:-

3.

Consequent to same, on instructions of assessee, the Ld. AR appearing for the assessee has endorsed, on the Appeal Memo that the ‘assessee’s Cross Objection is withdrawn.

4.

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, both the sides shall be entitled for restoration of the appeal.

5.

In the result, the appeal of the Revenue as well as the Cross Objection of the assessee are dismissed.

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