DEPUTY COMMISSIONER OF INCOME TAX , CIRCLE-2(1), INTERNATIONAL TAXATION ,CHENNAI, CHENNAI vs. NATIONAL CONTRACTING COMPANY LIMITED, CHENNAI

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ITA 907/CHNY/2024Status: DisposedITAT Chennai24 October 2024AY 2013-14Bench: SHRI ABY T. VARKEY (Judicial Member), SHRI AMITABH SHUKLA (Accountant Member)1 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 noted that as per CBDT Circular No.09 of 2024, the monetary limit for filing appeals before ITAT was revised to ₹60 lakhs. The Ld. DR conceded that the appeal was covered by this circular.

What were the facts?

The Revenue preferred an appeal against the order of the CIT(A) for AY 2013-14. The tax effect of the relief granted by the CIT(A) was below ₹60 lakhs.

What were the issues?

Whether the appeal is maintainable in light of the revised monetary limit for filing appeals as per CBDT Circular?

Which sections of the Income-tax Act were involved?

CBDT Circular No.09 of 2024

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH: CHENNAI

Before: SHRI ABY T. VARKEY & SHRI AMITABH SHUKLA

Hearing: 24.10.2024Pronounced: 24.10.2024

This is an appeal preferred by the Revenue against the order of the Learned Commissioner of Income Tax (Appeals) (hereinafter in short ‘the Ld.CIT(A)’), Chennai-16, dated 29.01.2024 for the Assessment Year (hereinafter in short ‘AY’) 2013-14.

2.

At the outset, we notice that the tax effect of the relief granted by the Ld.CIT(A) is below ₹60 lakhs and as per Circular No.09 of 2024 dated 17.09.2024 issued by the Central Board of Direct Taxes (hereinafter in short ‘CBDT’), Department of Revenue, Ministry of Finance, Government of India, the CBDT has revised the monetary limit for filing appeals before the ITAT from the existing limit of ₹50 lakhs to ₹60 lakhs.

3.

The Ld. DR fairly conceded that per-se this appeal is covered by the aforesaid Circular issued by the CBDT. However, he submitted that in case, this appeal falls in the exceptional clause, the decision may be recalled. This plea of the Revenue will be considered on its merits when occasion arises and we don’t express any such commitments.

4.

Having stated so, and having gone through the order of the Ld.CIT(A) and the grounds of appeals, we find per-se that the tax effect in the captioned appeal is less than ₹60 lakhs. Accordingly, we dismiss the aforesaid appeal filed by the Revenue as not maintainable/withdrawn on the strength of the CBDT Circular (supra).

5.

In the result, the appeal filed by the Revenue stands dismissed.

Order pronounced on 24th October, 2024.

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