ACIT, FARIDABAD vs. M/S. NUCHEM LTD., FARIDABAD

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ITA 1763/DEL/2010Status: DisposedITAT Delhi18 May 2017AY 2007-082 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the departmental appeal as withdrawn based on the Revenue's Counsel's submission. This was in accordance with a Board circular regarding monetary limits for filing appeals.

What were the facts?

The Revenue filed an appeal before the ITAT. The tax effect in the departmental appeal was below the monetary limit prescribed by a Board circular. The Assessing Officer's Counsel withdrew the appeal.

What were the issues?

Whether the departmental appeal should be withdrawn or not pressed due to the tax effect being below the prescribed monetary limit.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH - ‘F’ NEW DELHI

Before: SHRI BHAVNESH SAINI & SHRI PRASHANT MAHARISH

Hearing: 18/05/2017Pronounced: 18/05/2017

This appeal by the revenue has been directed against the order of Ld. CIT (A) Faridabad dated 26th February, 2010 for assessment. year 2007-08.

2.

According to the Board circular No. 21/15 dated 10th December, 2015, it was directed that the departmental appeals shall not be filed before the appellate Tribunal in cases where the tax effect does not exceed the monetary limit of Rs. 10 lacs. This instruction will apply retrospectively to pending appeals and appeals to be filed henceforth in Page 1 of 2 the Tribunal. Pending appeals below the specific tax limit may be withdrawn / not pressed. It is admitted fact that in the departmental appeal the tax effect is below Rs. 10 lacs . Ld. DR in view of the Board circular above withdrew the departmental appeal. The departmental appeal is accordingly dismissed as withdrawn.

Pronounced in the Open Court.

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