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Facts
The Revenue challenged the order of the CIT(A) which partly allowed the appeal against the Assessment Order. The tax effect in this appeal was INR 58,66,665/-. The Central Board of Direct Taxes (CBDT) issued a circular enhancing the monetary limit for filing departmental appeals to INR 60 Lakhs.
Held
The tax effect in the present appeal was below the specified monetary limit. Therefore, the appeal was dismissed as withdrawn or not pressed, as per the CBDT circular.
Key Issues
Whether the appeal is maintainable given the tax effect below the monetary limit set by the CBDT circular, and if it should be dismissed as withdrawn.
Sections Cited
143(3)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, F BENCH, MUMBAI
IN THE INCOME TAX APPELLATE TRIBUNAL "F" BENCH, MUMBAI MS. PADMAVATHY S, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY, JUDICIAL MEMBER Deputy Commissioner of Income Tax Circle -3(3)(1), Mumbai Room No.522, Aayakar Bhavan, M.K.Road, Mumbai – 400020. Maharashtra. …………. Appellant Shri Shyam Advisory Services Pvt. Ltd. Vs 105 C Wing, Mittal Tower, 10th Floor, Nariman Point, Mumbai – 400021 Maharashtra. [PAN: AAPCS1731E] …………. Respondent Appearance For the Appellant/Department : Ms. Rajeshwari Menon For the Respondent/Assessee : Shri Ashok Bansal Date Conclusion of hearing : 07.10.2024 Pronouncement of order : 09.10.2024 O R D E R Per Rahul Chaudhary, Judicial Member:
1. 1. By way of the present appeal the Revenue has challenged the order, dated 19/12/2023, passed by the National Faceless Appeal Centre (NFAC), Delhi, [hereinafter referred to as the ‘CIT(A)’] partly allowing the appeal against the Assessment Order, dated 18/12/2019, passed under Section 143(3) of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] for the Assessment Year 2017-18.
2. As per the Memorandum of Appeal in Form 36 filed before the Tribunal the tax effect in the present appeal is INR 58,66,665/-. Assessment Year: 2017-18
According to the Circular No. 9 of 2024, dated 17/09/2024, issued by the Central Board of Direct Taxes (CBDT) the monetary limit for filing departmental appeals before the Tribunal stands enhanced and departmental appeals are not be filed before the Tribunal in cases where the tax effect does not exceed the specified monetary limits of INR 60 Lakhs. The aforesaid limit is also applicable to the pending appeals which are required to be withdrawn by the Revenue.
The tax effect in the present appeal is below the aforesaid specified monetary limit and therefore, the present appeal is dismissed as ‘withdrawn/not pressed’ in terms of the aforesaid circular. It is, however, clarified that in case on re-verification the Revenue comes to the conclusion that the tax effect is higher than the abovesaid specified monetary limit, or the appeal falls within the exemption clause as contained in Circular No.3/2018, dated 11/07/2018 as amended by the letter [F.No.279/Misc.142/2007- ITJ (PT)], dated 20/08/2018, then the Revenue would be at liberty to file Miscellaneous Application within the time prescribed under the Act for seeking recall the present order.
In the result, this appeal is dismissed as withdrawn.