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Facts
The Revenue filed an appeal against the order of the Commissioner of Income Tax (Appeals) for Assessment Year 2021-22. The assessee's counsel contended that the tax effect involved in the appeal was below Rs. 50 lakhs, rendering it non-maintainable as per CBDT guidelines.
Held
The Tribunal observed that the tax effect on the disputed amount was below the monetary limit of Rs. 50 lakhs. In light of CBDT Circular No. 17 of 2019, and with the concurrence of the Departmental Representative, the appeal was deemed withdrawn and accordingly dismissed.
Key Issues
Whether the Revenue's appeal is maintainable if the tax effect on the disputed amount is below the monetary limit specified by CBDT Circular No. 17 of 2019.
Sections Cited
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Income Tax Appellate Tribunal, DELHI BENCH: ‘D’ NEW DELHI
Before: SHRI SAKTIJIT DEY, HON’BLE VICE- & DR. B.R.R. KUMAR
PER SAKTIJIT DEY, VICE-PRESIDENT
Captioned appeal by the Revenue arises out of order dated 17.05.2023 of learned Commissioner of Income Tax (Appeals) pertaining to assessment year 2021-22.
When the matter was called out, learned counsel appearing for the assessee, at the very outset, submitted that the tax effect on the amount disputed by the Revenue in the present appeal is below the monetary limit of Rs.50 lakhs. Thus, he submitted that in terms of CBDT Circular No. 17 of 2019, dated 8th August, 2019 issued by Central Board of Direct Taxes (CBDT), the appeal is not maintainable.
On a query from the Bench, learned Departmental Representative fairly submitted that the tax effect on the amount disputed in the present appeal is below the monetary limit of Rs.50 lakhs.
In view of the aforesaid, the appeal is deemed to have been withdrawn, hence, dismissed.
Order pronounced in the open court on 7th May, 2024