ASST.COMMISSIONER OF INCOME TAX, INCOME TAX DEPARTMENT vs. MAHATMA FULE GRAMIN BIGAR SHETI SAHAKARI PATSANSTHA, MOWAD

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ITA 361/NAG/2023Status: DisposedITAT Nagpur24 September 2024AY 2017-18Bench: SHRI V. DURGA RAO (Judicial Member)2 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal agreed that the tax effect was below the revised monetary limit. Therefore, the Revenue's appeal was not maintainable and deserved to be dismissed.

What were the facts?

The Revenue filed an appeal against the CIT(A)'s order for AY 2017-18. The assessee argued that the tax effect of the disputed amount was below the revised monetary limit of ₹60 lakh as per CBDT Circular No. 09 of 2024.

What were the issues?

Whether the Revenue's appeal is maintainable given the tax effect is below the revised monetary limit prescribed by the CBDT.

Which sections of the Income-tax Act were involved?

CBDT Circular no.09 of 2024

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: Shri Abhishek Kumar
For Respondent: Shri Abhay Y. Marathe

./2023 (Assessment Year : 2017–18) Asstt. Commissioner of Income Tax ……………. Appellant Circle–3, Nagpur v/s Mahatma Fule Gramin Bigar Sheti Sahakari Patsanstha ……………. Respondent Mowad, Narkhed, Dist. Nagpur 441 303 PAN – AABAM7835K Assessee by : Shri Abhishek Kumar Revenue by : Shri Abhay Y. Marathe Date of Hearing – 24/09/2024 Date of Order – 24/09/2024

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

The Revenue has filed this appeal challenging the impugned order dated 21/09/2023, passed by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, [“learned CIT(A)”], for the assessment year 2017–18.

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 agreed that the tax effect on the amount disputed by the Revenue is below the monetary limit of ` 60 lakh for both the years under consideration.

Mahatma Fule Gramin Bigar Sheti Sahakari Patsanstha ITA no.361/Nag./2023

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 appeal is 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, Revenue’s appeals deserve to be dismissed. However, the Revenue is given liberty to seek recall of this consolidated order if, at a later point of time, it is found that the appeal fall under any of the exceptions provided in the CBDT Circular referred to above.

5.

In the result, appeal filed by the Revenue is dismissed. Order pronounced in the open Court on 24/09/2024

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