PRINCIPAL COMMISSIONER OF INCOMET TAX-7 vs. SRI S KUMAR

THE INCOME TAX OFFICER, WARD-1, TIPTUR. ...APPELLANTS (BY SRI. SANMATHI E.I, ADVOCATE) AND: SRI. S. KUMAR, CHIKKA RANGAPURA, RANGAPURA POST, TIPTUR TALUK - 572 201, PAN NO: AQIPK0572D. ...RESPONDENT (BY SRI. M. LAVA, ADVOCATE) THIS ITA / INCOME TAX APPEAL IS FILED UNDER SECTION 260-A OF INCOME TAX ACT, 1961, PRAYING TO SET ASIDE THE APPELLATE ORDER DATED 05.11.2018 PASSED BY THE INCOME TAX APPELLATE TRIBUNAL, 'A' BENCH, BENGALURU, IN APPEAL PROCEEDINGS IN ITA NO.2211/BANG/2016 (ANNEXURE-A) FOR THE ASSESSMENT YEAR 2008-09 AS SOUGHT FOR INT HIS APPEAL AND TO GRANT SUCH OTHER RELIEF AS DEEMED FIT, IN THE INTEREST OF JUSTICE.

The Revenue is in appeal under Section 260-A of the Income Tax Act, 1961 (for short, ‘the Act’) questioning the correctness and legality of order dated 05.11.2018 passed by the Income Tax Appellate Tribunal, ‘A’ Bench, Bengaluru (for short, ‘Appellate Authority’) in ITA.No.2211/Bang/2016 for the assessment year 2008-09.

This

Learned counsel for the assessee submits that the tax effect in this appeal is less than Rs.2 Crores and therefore, the appeal should not be entertained at the instance of the revenue in view of the Circular No.09/2024 dated 17.09.2024 issued by the Central Board of Direct Taxes. It is also submitted that the aforesaid Circular binds the revenue.

On the other hand, learned counsel for the revenue submits that he be granted liberty to revive the appeal in case the matter falls within the exceptions under the aforesaid Circular dated 17.09.2024 and Circular No.5/2024 dated 15.03.2024.

In view of the aforesaid submissions, the appeal is disposed of with liberty as prayed for by the learned counsel for the revenue. However, the question of law is kept open to be adjudicated in an appropriate proceeding.