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Facts
The appeal was filed by the Revenue against an order of the NFAC. The Assessing Officer had passed an assessment order under section 143(3) of the Income-tax Act, 1961. The Departmental Representative pointed out that the appeal was to be withdrawn as the tax effect was below Rs. 60 Lacs.
Held
The Tribunal noted that the CBDT Circular No. 09/2024 revised the monetary limit for filing appeals to the Tribunal to Rs. 60 Lacs and that this circular is applicable to all pending appeals. Consequently, the appeal filed by the Revenue with a low tax effect was not maintainable.
Key Issues
Maintainability of appeal due to low tax effect as per CBDT Circular No. 09/2024.
Sections Cited
143(3)
AI-generated summary — verify with the full judgment below
Income Tax Appellate Tribunal, AGRA BENCH “DB”: AGRA
O R D E R PER M. BALAGANESH, A. M.: 1. The appeal in AY 2015-16, arises out of the order of the National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as ‘ld. NFAC’, in short] dated 18.08.2023 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 06.01.2020 by the Assessing Officer, ACIT/DCIT- Circle-2(1)(1), Agra (hereinafter referred to as ‘ld. AO’).
We have heard the rival submissions and perused the material available on record. However, Ld. Departmental Representative (DR) pointed out that the present appeal is to be withdrawn as the tax effect involved in the case is below Rs.60 Lacs.
The CBDT vide Circular No.09/2024 dated 17.09.2024 has revised the monetary limit for filing the appeals before the Tribunal to Rs.60 Lacs and the said Circular would be applicable to all pending appeals. In such circumstances, the present appeal filed by the Revenue in case of low tax effect is not maintainable.
Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribunal for re-institution of appeal, if the requisite material is brought to show that the appeal is protected by the exceptions prescribed in para-3.1 and 3.2 of the Circular dated 17.09.2024.
In conclusion, by applying the CBDT Circular dated 17.09.2024, the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.
In the final result, the appeal of the Revenue stands dismissed.
Order pronounced in the open court on 03/02/2025.