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

PDF · subscribers
ITA 1636/KOL/2024Status: DisposedITAT Kolkata30 September 2024AY 2016-17Bench: SRI SANJAY GARG, JUDICIAL MEMBER & SRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.(S.S.)A. No.: 92/KOL/2024 Assessment Year: 2015-16 & I.T.A. No.: 1636/KOL/2024 DCIT, Central Circle-3(1), Kolkata…...……………………………….Appellant Vs. Chirag Jewellers……………………...........................................Respondent [PAN: AABFC 7914 L] Appearances: Department represented by: Subhendu Datta, CIT DR. Assessee represented by: Miraj D. Shah, AR. Date of concluding the hearing : September 30th, 2024 Date of pronou2 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 dismissed the appeals filed by the Revenue. This was based on the CBDT's circular regarding monetary limits for filing appeals, which stipulated that appeals with a low tax effect should not be pursued.

What were the facts?

The Revenue filed appeals against the CIT(A) orders for assessment years 2015-16 and 2016-17. The tax effect on the disputed additions was found to be less than Rs. 60 lakh, as per CBDT Circular No. 09/2024.

What were the issues?

Whether the Revenue's appeals should be dismissed due to low tax effect as per CBDT circulars. The applicability of the revised monetary limits for filing appeals retrospectively.

Which sections of the Income-tax Act were involved?

Section 268A

AI-generated summary — verify with the full judgment below

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:

1.

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)'].

2.

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.

3.

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

More judgments on Section 268A

All 3,931 judgments and leading authorities on Section 268A →

Recent GST High Court judgments

Search GST case law →