ACIT CIRCLE-58(1), DELHI vs. CA COOPERATIVE THRIFT & CREDIT SOCIETY LIMITED, DELHI

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ITA 108/DEL/2021Status: DisposedITAT Delhi27 September 2021AY 2011-123 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 Revenue's appeal due to the tax effect being below the monetary limit prescribed by CBDT Circular No. 17/2019. Consequently, the assessee's cross-objection became otiose.

What were the facts?

The Revenue filed an appeal against the order of the CIT(A) for Assessment Year 2011-12. The tax effect of the appeal was Rs. 689300/-.

What were the issues?

Whether the Revenue's appeal is maintainable when the tax effect is below the prescribed monetary limit as per CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘SMC’, NEW DELHI

Before: SH. N. K. BILLAIYA

For Respondent: Ms. Anju Bhargava, Accountant in Firm
Hearing: 27/09/2021Pronounced: 27/09/2021

Heard together (2 matters)

C.O. No.30/De/2021
ITA No.108/Del/2021

Read from the judgment's own cause title. This page is filed under one of them.

1.

C.O. No.30/Del/2021 are appeal by the revenue and cross objection by the assessee preferred against the order of the CIT(A), New Delhi-35 pertaining to A.Y.2011-12.

2.

A perusal of Form 36 filed by the revenue show that the tax effect relating to each ground of appeal

is Rs.689300/-.

3. This appeal is accordingly dismissed for want of tax effect in the light of CBDT Circular No. 17/2019 dated 08.08.2019.

4. In the result, the appeal filed by the assessee is dismissed.

Cross Objection No.30/Del/2021 (A.Y.2011-12)

5.

The assessee has challenged that the appeal of the revenue is barred by limitation and secondly the tax effect is less than the monetary limit filled by the CBDT circular and the third in support of the findings of the CIT(A). Since the appeal filed by the revenue in Cross objection becomes otiose.

6.

Decision announced in the open court in the presence of both the representatives on 27.09.2021.

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