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Facts
The Revenue filed an appeal against the order of the CIT(A) for AY 2010-11, which stemmed from an assessment under section 153A read with 143(3) of the Income-tax Act, 1961. During the hearing, the Departmental Representative noted that the tax effect involved in the case was below Rs. 60 Lacs.
Held
The Tribunal held that, in light of CBDT Circular No. 09/2024 dated 17.09.2024, which revised the monetary limit for filing appeals before the Tribunal to Rs. 60 Lacs, the Revenue's appeal was not maintainable. The appeal was dismissed as withdrawn/not pressed, with liberty granted to the Revenue for re-institution if it falls under specified exceptions of the Circular.
Key Issues
Whether the Revenue's appeal is maintainable before the ITAT when the tax effect is below the monetary limit stipulated by the CBDT Circular.
Sections Cited
153A, 143(3), Income-tax Act, 1961
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, DELHI BENCH “H”: NEW DELHI
Before: SHRI M. BALAGANESH & SHRI SUDHIR KUMAR
O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in AY 2010-11, arises out of the order of the Commissioner of Income Tax (Appeals)-31, New Delhi [hereinafter referred to as ‘ld. CIT(A)’, in short] in Appeal No. 745/20-21 dated 08.06.2022 against the order of assessment passed u/s 153A r.w.s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 30.12.2019 by the Assessing Officer, ACIT, Central Circle-02, New Delhi (hereinafter referred to as ‘ld. AO’).
However, Ld. Departmental Representative (DR) pointed out that the present appeal is to be withdrawn as the tax effect involved in the case is below Rs.60 Lacs.
The 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 Page | 1 Aparajita Homes Pvt. Ltd, and the said Circular would be applicable to all pending appeals. In such circumstances, the present appeal filed by the Revenue in case of low tax effect is not maintainable.
Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribunal for re-institution of appeal, if the requisite material is brought to show that the appeal is protected by the exceptions prescribed in para-3.1 and 3.2 of the Circular dated 17.09.2024.
In conclusion, by applying the CBDT Circular dated 17.09.2024, the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.
In the final result, the appeal of the Revenue stands dismissed.
Order pronounced in the open court on 17/10/2024.