DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2(1), NAGPUR, NAGPUR vs. HARMONY AAC PRODUCTS PRIVATE LIMITED, NAGPUR

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ITA 333/NAG/2023Status: DisposedITAT Nagpur18 November 2024AY 2019-20Bench: SHRI V. DURGA RAO (Judicial Member)5 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the tax effect in the disputed amounts was indeed below the revised monetary limit. Consequently, the Revenue was permitted to withdraw its appeals.

What were the facts?

The Revenue filed appeals before the ITAT against six different assessees. The assessee's representative argued that the tax effect in these appeals was below the revised monetary limit for appeals to the Tribunal as per a CBDT circular.

What were the issues?

Whether the Revenue's appeals are maintainable before the Tribunal given that the tax effect is below the revised monetary limit prescribed by CBDT circulars.

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR BENCH, NAGPUR

Before: SHRI V. DURGA RAO & SHRI K.M. ROY, ACCOUNTANT, MEMBER

For Appellant: Smt. Veena Agrawal
For Respondent: Shri Vijay Agrawal

./2023 (Assessment Year : 2019–20) Dy. Commissioner of Income Tax ……………. Appellant Central Circle–2(1), Nagpur v/s Harmony Ventures Plot no.43, Flat no.701, 7th Floor ……………. Respondent Tranquility, Near Traffic Park Dharampeth, Nagpur 440 010 PAN – AAGFH9672P Assessee by : Shri Mahavir Atal Revenue by : Shri Abhay Y. Marathe Date of Hearing – 06/11/2024 Date of Order – 18/11/2024

O R D E R PER K.M. ROY, A.M.

The captioned appeals have been filed by the Revenue against six different assessees. The details of impugned orders under challenge before us are as follows:– Name of Date of Impugned order A.Y. Assessee impugned order passed by Manojkumar Parmanand 2015–16 14/03/2023 CIT(A)–3, Nagpur Singhania National Faceless Indus Papers 2018–19 18/05/2023 Appeal Centre, Delhi, Harmony Homes 2017–18 07/08/2023 CIT(A)–3, Nagpur Harmony Homes 2018–19 07/08/2023 CIT(A)–3, Nagpur Harmony Homes 2019–20 07/08/2023 CIT(A)–3, Nagpur Harmony AAC Products Pvt. 2019–20 07/08/2023 CIT(A)–3, Nagpur Ltd. Harmony 2019–20 07/08/2023 CIT(A)–3, Nagpur Ventures

2.

At the outset, the leaned Authorised Representative appearing for the assessee submitted that the tax effect on the amount disputed by the Revenue is below the revised monetary limit of ` 60 lakh applicable to appeals before the Tribunal, as per CBDT Circular no.09 of 2024, dated 17/09/2024. Thus, the learned A.R. submitted that the Revenue’s appeals being covered under the aforesaid Circular is not maintainable.

3.

The learned Departmental Representative submitted that since the tax effect on the amounts disputed by the Revenue is below the revised monetary limit of ` 60 lakh, as stated above, hence, the learned D.R. wish to withdraw all these appeals.

4.

Having heard the arguments of rival parties, perused the material available on record and gone through the orders of the authorities below, we are of the view that the tax effect on the amount disputed by the Revenue in the present appeals are admittedly below the revised monetary limit of ` 60 lakh as per CBDT Circular cited supra. It also stands clarified by the CBDT that the revised monetary limit of ` 60 lakh, as per the aforesaid CBDT Circulars, would also apply to all pending appeals. In view of the aforesaid, the Revenue is hereby permitted to withdraw the appeals.

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