DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 3(1), KOLKATA vs CHIRAG JEWELLERS, KOLKATA

Income Tax Appellate Tribunal, KOLKATA ‘A’ BENCH, KOLKATA

Before: SRI SANJAY GARG & SRI SANJAY AWASTHI

For Respondent: DR. Assessee represented by: Miraj D. Shah, AR

order

: September 30th, 2024 ORDER

Per Sanjay Garg, Judicial Member:

The present appeals filed by the Revenue are directed against separate orders dated 16.05.2024 & 17.05.2024 respectively of the Commissioner of Income Tax (Appeals)- 21, Kolkata [hereinafter referred to as ld. 'CIT(A)'].

It is seen, at the outset, that the tax effect on the disputed additions before us is less than Rs. 60 lakh as prescribed in the CBDT’s latest Circular II.T.(S.S.)A. No.: 92/KOL/2024 Assessment Year: 2015-16 I.T.A. No.: 1636/KOL/2024 Assessment Year: 2016-17 Chirag Jewellers. No. 09/2024 dated 17.09.2024 for filing appeals by the Revenue before this Tribunal. 2.1. This circular prescribes that the revised monetary limits shall apply retrospectively to pending appeals as well.

The ld. DR has also fairly stated that tax effect involved in appeal is less than the prescribed limit.

DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE - 3(1), KOLKATA vs. CHIRAG JEWELLERS, KOLKATA