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Facts
The Revenue filed an appeal for assessment year 2009-10 against an order of the CIT(A)-NFAC. The appeal involved proceedings under section 147 of the Income-tax Act, 1961. Both parties were heard at length, and the case file was perused.
Held
The Tribunal noted that the tax effect of the Revenue's appeal was Rs.42,87,269, which is less than the minimum tax effect of Rs.60 lakhs prescribed by CBDT Circular No. 9/2024. The Departmental Representative did not dispute the applicability of this circular with retrospective effect.
Key Issues
Whether the appeal should be dismissed due to the tax effect being below the prescribed limit as per CBDT Circular No. 9/2024.
Sections Cited
147
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Income Tax Appellate Tribunal, AGRA BENCH, AGRA
Before: SHRI SATBEER SINGH GODARA & SHRI MANOJ KUMAR AGGARWAL
ORDER
Per Satbeer Singh Godara, Judicial Member:
This Revenue’s appeal for assessment year 2009-10, arises against the Commissioner of Income Tax (Appeals)-National Faceless Appeal Centre [in short, the “CIT(A)-NFAC”],Delhi’s DIN and order no. ITBA/NFAC/S/250/2023-24/1051948939(1) dated 10.04.2023, involving proceedings under section 147 of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’).
Heard both the parties at length. Case file perused.
It emerges at the outset that the Revenue's instant appeal involves tax effect of Rs.42,87,269/- which is less than the minimum tax effect prescribed of Rs.60 lakhs in the CBDT latest Circular No. 9/2024, dated 17.09.2024.
Learned Departmental Representative is indeed very fair in not disputing the fact that the CBDT's foregoing tax effect circular has been made applicable with retrospective effect on all pending appeals as well.
We thus reject the Revenue's instant appeal for this precise reason subject to all just exceptions.
This Revenue's appeal is dismissed in above terms.
Order pronounced in the open court on 13.02.2025