DCIT., (INTERNATIONAL TAXATION)-2, HYDERABAD vs. PARIT MUKUNDRAI MAVJI PATEL, HYDERABAD

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ITA 467/HYD/2024Status: DisposedITAT Hyderabad26 September 2024AY 2014-15Bench: Shri Mahavir Singh, Hon'ble (Vice President), Shri Manjunatha, G. Accountant Hon'ble (Accountant Member)3 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 appeal as not pressed/not maintainable, citing a CBDT circular that mandates not filing appeals with a tax effect below Rs. 60 lakhs. The issues raised were left open for future proceedings.

What were the facts?

The Revenue filed an appeal before the ITAT against an order of the CIT(A) for AY 2014-15. The tax effect in this appeal was less than Rs. 60 lakhs.

What were the issues?

Whether an appeal filed by the Revenue before the ITAT is maintainable when the tax effect is below the monetary limit prescribed by the CBDT circular.

Which sections of the Income-tax Act were involved?

Section 268A(1)

AI-generated summary — verify with the full judgment below

(िनधा�रण वष�/Assessment Year: 2014-15) Dy. CIT (International Vs. Shri Parit Mukundrai Taxation) – 2 Mavji Patel, Hyderabad Hyderabad PAN:CTXPP1938A (Appellant) (Respondent) राज� व �ारा/Revenue by: Shri Srinath Sadanala, DR िनधा�रती �ारा/Assessee by Shri A.V. Raghuram, Advocate सुनवाई की तारीख/Date of hearing: 26/09/2024 घोषणा की तारीख/Pronouncement: 26/09/2024 This appeal filed by the revenue is directed against the order dated 1/2/2024 of the learned CIT (A) 10 Hyderabad for AY 2014-15.

2.

It is stated before us that the tax effect in this appeal is less than Rs.60 lakhs and therefore the Circular No. 279/Misc./M-74/2024-ITJ, dated 17th September, 2024 issued by the Central Board of Direct Taxes (CBDT) issued in amendment to Circular 5 of 2024 under Sec.268A(1) of the I.T. Act comes into play, wherein, the monetary limit for filing the appeals by the Revenue before the ITAT and various High Courts as well as Apex Court are revised with Page 1 of 3 an object of the reducing the tax litigation. Vide para 2 of the said circular (supra) is stated that in cases where the tax effect in the appeals to be filed before the Appellate Tribunal does not exceed Rs. 60 lakhs appeals should not be filed. Thus, taking a note of CBDT Circular No.(F.279/Misc./M074/2024-ITJ), dated 17/09/2024 and considering the fact that the tax effect in the instant appeal is less than Rs. 60 lakhs, the present appeal deserves to be dismissed as not pressed/not maintainable. However, we make it clear that the issues raised in the instant appeal is left open to be examined in the appropriate proceedings, if arises, in future. At the same time, we also make it clear that, if the appeal falls in any of the exceptions referred to in the above said CBDT Circular, the Revenue is at liberty to move an application for recalling the order, if so, advised.

3.

Accordingly in the light of CBDT Circular No. No.(F.279/Misc./M074/2024-ITJ), dated 17/09/2024 the appeal filed by the Revenue stands dismissed. Order ppronounced in the open Court at the time of hearing itself i.e. on 26th September, 2024. Sd/- Sd/- (MAHAVIR SINGH) (MANJUNATHA, G.) VICE-PRESIDENT ACCOUNTANT MEMBER Hyderabad, dated 26th September, 2024 Vinodan/sps

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