ITO, NEW DELHI vs. M/S. ESTEEM FINVENTURES LTD., NEW DELHI

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ITA 1483/DEL/2012Status: DisposedITAT Delhi15 September 2016AY 2001-023 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 appeals filed by the Revenue. This decision was based on the fact that the tax effect was below the threshold stipulated by CBDT Circular No. 21/2015.

What were the facts?

The Revenue filed appeals before the ITAT. The tax effect in these appeals was less than Rs. 10 lakhs. The Revenue's counsel submitted that the appeals should be dismissed based on this criterion.

What were the issues?

Whether appeals with a tax effect below a certain threshold, as per CBDT circular, should be dismissed.

Which sections of the Income-tax Act were involved?

Section 268A

AI-generated summary — verify with the full judgment below

Before: SHRI S.V. MEHROTRA & SMT SUCHITRA KAMBLE

Hearing: 15.09.2016Pronounced: 15.09.2016

ORDER PER SUCHITRA KAMBLE, JM

These appeals are filed by the Revenue. Admittedly the tax effects in Revenue’s appeals are less than Rs.10 lakhs.

2.

In terms of CBDT Circular No.21/2015 dated 10th December,2015, F.No. 279/Misc./142/2007-ITJ(Pt.) read with Section 268A of the Income Tax Act 1961, these appeals by the Revenue should have been withdrawn or should not have been pressed by the Revenue.

3.

The Ld. AR submitted that since the Appeals of the Revenue are less than Rs. 10 lakhs, the appeals have to be dismissed.

4.

In result, the appeal of the Revenue is dismissed.

The order is pronounced in the open court on 15th of September, 2016.

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