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Facts
The Revenue filed an appeal against the CIT(A)/NFAC order for assessment year 2018-19. The assessee's counsel submitted that the tax effect in the appeal was below Rs. 60 lakhs, citing CBDT Circular No. 09/2024 which revised the monetary limit for departmental appeals to the ITAT. The Ld. DR concurred, confirming the tax effect to be Rs. 34,79,216/-, falling below the revised limit.
Held
The Tribunal dismissed the Revenue's appeal as not maintainable. This decision was based on CBDT Circular No. 09/2024 dated 17.09.2024, which sets the monetary limit for filing departmental appeals to the ITAT at Rs. 60 lakhs, and the admitted tax effect of Rs. 34,79,216/- was below this threshold.
Key Issues
Whether the Revenue's appeal is maintainable before the ITAT when the tax effect is below the monetary limit prescribed by CBDT Circular No. 09/2024.
Sections Cited
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Income Tax Appellate Tribunal, DELHI BENCH “E”, NEW DELHI
Before: SHRI SHAMIM YAHYA, & SHRI VIMAL KUMAR
The Revenue has filed the instant Appeal against the Order of the Ld. CIT(Appeal)/NFAC, Delhi dated 26.03.2024, relating to assessment year 2018-19.
At the time of hearing, Ld. Counsel for the assessee has submitted that the tax effect in this appeal by the Revenue is below Rs. 60 lakhs. The CBDT in its Circular No.09/2024 dated 17.09.2024 has recently revised the monetary limit for filing of the departmental appeals to the ITAT at Rs. 60 lakhs. He has, therefore, requested that the Revenue’s appeal may be dismissed.
At the time of hearing, Ld. DR agreed that the tax effect in this appeal of the Revenue is below the prescribed limit and for the sake of convenience, he filed a chart of calculation of tax effect, which shows that the tax effect involved in the present case is Rs. 34,79,216/-.
In view of the above position, we deem it 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 23/09/2024.