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Facts
The Revenue filed an appeal before the ITAT, which was delayed by 44 days. The assessee did not raise any serious objection to the condonation of delay. The appeal was considered on merits.
Held
The tribunal noted that the tax effect of the relief granted by the Ld.CIT(A) was below ₹60 lakhs, which is the revised monetary limit for filing appeals before the ITAT as per CBDT Circular No.09 of 2024. The Ld.DR conceded that the appeal was covered by the circular.
Key Issues
Whether the Revenue's appeal is maintainable given the tax effect is below the revised monetary limit prescribed by the CBDT Circular.
Sections Cited
CBDT Circular No.09 of 2024
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Income Tax Appellate Tribunal, ‘C’ BENCH: CHENNAI
Before: SHRI ABY T. VARKEY & SHRI MANOJ KUMAR AGGARWAL
आदेश / O R D E R
PER ABY T. VARKEY, JM:
1. 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)’), NFAC, Delhi, dated 26.03.2024 for the Assessment Year (hereinafter in short ‘AY’) 2015-16.
At the outset, the Revenue’s appeal, is delayed by ‘41’ days, for which, the ITO has filed the affidavit for condonation of delay, to which, the Ld.Counsel of the assessee has not raised any serious objection.
Consequently, the delay of ‘44’ days in filing of the appeal stands condoned and the appeal filed by the Revenue is taken up for hearing on merits.
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.
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.
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).
In the result, the appeal filed by the Revenue stands dismissed. Order pronounced on the 09th day of October, 2024, in Chennai.