Loading judgment…
Facts
The Revenue filed an appeal against the CIT(A)'s order for AY 2017-18, which arose from an assessment order under section 143(3) of the Income-tax Act, 1961. The Ld. Departmental Representative noted that the tax effect involved in the appeal was below Rs. 60 Lacs, suggesting it should be withdrawn.
Held
The Tribunal referred to CBDT Circular No. 09/2024 dated 17.09.2024, which revised the monetary limit for filing appeals before the Tribunal to Rs. 60 Lacs. Since the tax effect in the present case was below this limit, the appeal was deemed not maintainable and was dismissed as withdrawn/not pressed. The Revenue was granted liberty to seek re-institution if the appeal fell under specific exceptions mentioned in the Circular.
Key Issues
Whether the Revenue's appeal, having a tax effect below Rs. 60 Lacs, is maintainable before the Tribunal in light of CBDT Circular No. 09/2024.
Sections Cited
143(3)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, DELHI BENCH “G”: NEW DELHI
Before: SHRI M. BALAGANESH & SHRI SUDHIR KUMAR
O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in AY 2017-18, arises out of the order of the Commissioner of Income Tax (Appeals)-28, New Delhi [hereinafter referred to as ‘ld. CIT(A)’, in short] in Appeal No. 26/10387/2018-19 dated 22.08.2023 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 28.12.2018 by the Assessing Officer, ACIT, Central Circle- 15, 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 Departmental Representative (DR) pointed out that the present appeal is to be withdrawn as the tax effect involved in the case is below Rs.60 Lacs.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 Shahabuddin 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In conclusion, by applying the CBDT Circular dated 17.09.2024, the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.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 14/10/2024.