DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3(1), KOLKATA, KOLKATA vs. REFORM TOOLS PVT LTD, KOLKATA

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ITA 1645/KOL/2024Status: DisposedITAT Kolkata30 September 2024AY 2019-20Bench: SRI SANJAY GARG, JUDICIAL MEMBER & SRI SANJAY AWASTHI, ACCOUNTANT MEMBER I.T.A. No.: 1645/KOL/2024 Assessment Year: 2019-20 DCIT, Central Circle-3(1), Kolkata……….………..……………………Appellant Vs. Reform Tools Pvt. Ltd...........................................................Respondent [PAN: AABCR 6639 J] Appearances: Department represented by: Subhendu Datta, CIT DR. Assessee represented by: None. Date of concluding the hearing : September 30th, 2024 Date of pronouncing the order : September 30th2 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 Revenue's appeal. This was based on the CBDT's Circular No. 09/2024, which sets monetary limits for filing appeals, and the tax effect in this case fell below those limits.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for the assessment year 2019-20. The tax effect on the disputed additions was found to be less than Rs. 60 lakh.

What were the issues?

Whether the Revenue's appeal should be dismissed due to low tax effect as per CBDT circulars.

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: None

order

: September 30th, 2024 ORDER

Per Sanjay Garg, Judicial Member:

1.

The present appeal filed by the Revenue is directed against the order dated 18.01.2024 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 No. 09/2024 dated 17.09.2024 for filing appeals by the Revenue before this Tribunal.

I.T.A. No.: 1645/KOL/2024 Assessment Year: 2019-20 Reform Tools Pvt. Ltd. 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.

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