What did the Tribunal hold?

The Tribunal dismissed the Revenue's appeal because the tax effect was below the monetary limit specified by the CBDT circular. This decision was made without prejudice to any other just exceptions.

The Revenue filed an appeal for AY 2018-19. The tax effect in the appeal was found to be less than the prescribed limit of Rs.60.00 lakhs as per CBDT Circular No.09/2024.

What were the issues?

Whether the Revenue's appeal is maintainable when the tax effect is below the prescribed monetary limit set by CBDT circulars.

ACIT vs Arihant Marbles Co, Nashik | ITAT Pune 2024

Income Tax Appellate Tribunal, PUNE BENCH “A”, PUNE

Before: SHRI R.K. PANDA & SHRI S.S. GODARA

For Respondent: Shri Ramnath P Murkunde

आदेश / ORDER PER S.S. GODARA, JM :

This Revenue’s appeal for AY 2018-19 arises against the CIT(A), Pune-12’s order dated 23-02-2024 passed in case No. ITBA/APL/S/250/2023-24/1061405982(1) in proceedings under Section 250 of the Income Tax Act, 1961, in short ‘the Act’.

It emerges during the course of hearing that the tax effect in the revenue’s instant appeal as per Form No.36 is Rs.57,95,242/-, i.e., less than the prescribed tax effect of Rs.60.00 lakhs in view of CBDT’s latest Circular No.09/2024, dated 17.09.2024 applicable with retrospective effect to all pending appeals as well. This clinching factual position has gone unrebutted from the departmental side. We thus dismiss the Revenue’s instant appeal for the very precise reason subject to all just exceptions.

This Revenue’s appeal is dismissed in very terms.

Order pronounced in the Open Court on 21st October, 2024.

ACIT, CENTRAL CIRCLE-1, NASHIK, NASHIK vs. ARIHANT MARBLES CO, NASHIK

What did the Tribunal hold?

What were the facts?

What were the issues?

Which sections of the Income-tax Act were involved?

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