ACIT, CIRCLE-1(1), BHUBANESWAR vs. HI TECH ESTATES & PROMOTERS PRIVATE LIMITED, BHUBANESWAR

At the outset, the Ld. Counsel for the assessee submitted vide the CBDT Circular No. 9/2024 dated 17.09.2024, the monetary limits for filing of appeal by the Department before Income Tax Appellate Tribunal and High Courts and SLP before Supreme Court have been increased as a measure for reducing Litigation. The revised monetary limits laid down in para-2 of this Circular are as follows:

In the present appeals of the revenue, the tax effect is less than Rs.60,00,000/-, therefore, in view of the above CBDT Circular, we hold that 2 Hi-Tech Estates & Promoters Pvt. Ltd. the appeals filed by the Department, against the impugned order of the Ld. CIT(A), are contrary to the policy decision of the Department and as such the appeal filed by the Department are dismissed in limine as not maintainable.

As a matter of caution, we observe that if the Revenue finds at a later point of time that the tax effect in these appeals are more than Rs.60 lakhs or despite low tax effect, the appeals of the revenue are maintainable, the revenue is at liberty to move a miscellaneous petition before this Tribunal for recalling of this order in all the appeals.