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Income Tax Appellate Tribunal, DELHI BENCH: ‘A’ NEW DELHI
Before: SMT DIVA SINGH & SH.PRASHANT MAHARISHI
Date of Hearing 31.03.2016 Date of Pronouncement 06.05.2016 ORDER
PER DIVA SINGH, JM
The present appeal has been filed by the Revenue assailing the correctness of the order dated 09.11.2012 of CIT(A)-XXIV, New Delhi pertaining to 2008-09 assessment year on the following ground: – 2. “On the facts and in the circumstances of the case, the CIT(A) has erred in admitting additional evidences and accepting of ‘cash system’ of accounting instead of ‘mercantile system’ as confirmed in column 11(b) of the Audit Report u/s 44AB and it is without calling remand report.”
Considering the amount at stake for the Revenue, both the parties were required to address Circular No.21/2015 dated 10th December, 2015 of CBDT. On consideration of the facts on record and the aforesaid Circular of the CBDT, the Ld. Sr. DR fairly conceded that the departmental appeal has been filed wherein the tax effect involved is much less than Rs.10 lakh.
We have heard the submissions of the parties on this issue and perused the material on record. We find that the CBDT vide the aforesaid Circular dated 10.12.2015 has revised the monetary limit to Rs.10 lakh for filing the appeal by I.T.A .No.-404/Del/2013