Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, DELHI BENCH ‘A’, NEW DELHI
Before: SHRI J. SUDHAKAR REDDY & SH. A.T.VARKEY
ORDER PER J. SUDHAKAR REDDY, ACCOUNTANT MEMBER These appeals are filed by the Revenue directed against the order of the Ld.Commissioner of Income Tax (Appeals)-XIX, New Delhi dated 12.03.2012 pertaining to the Assessment Year (A.Y.) 2004-05 and 2005-06.
& 2539/Del/2012 A.Y. 2004-05 and 2005-06 Cross Objections Nos. 244 and 245/Del/12 (In ITA 2538 & 2539/Del/12) Arihant Electricals, N.Del The assessee has filed Cross Objections for both the A.Ys 2004-05 and 2005-06. 1.1. The tax effect in both these appeals by the Revenue do not exceed the monetary limit of Rs.10 lakhs specified in recent CBDT Circular No.21/2015 dated 10th December,2015, F.No. 279/Misc./142/2007-ITJ(Pt.) read with S.268 A of the Income Tax Act 1961. Further in this CBDT Circular, at para 10 it is specified that the Instruction will apply retrospectively, to all pending appeals.
We have heard Sh.Ravi Jain, Ld.CIT, D.R. on behalf of Revenue and Shri Abhishek Anand, Ld.Counsel for the assessee.
2.1. The Ld.CIT, D.R. could not controvert the fact that the tax effect on the quantum of income in dispute is below the monetary limit of Rs.10,00,000/- (Ten lakhs only).
2.2. Hence we dismiss these appeals filed by the Revenue on the ground that the tax effect in the present appeals do not exceed the monetary limit specified by the CBDT Circular No.21/2015 dated 10th December,2015, F.No. 279/Misc./142/2007-ITJ(Pt.) read with S.268 A of the Income Tax Act 1961, and hence not maintainable.
2.3. In case there is a mistake in the calculation or if the cases are covered by any of the exception specified in the Circular, the revenue may file a Misc. Application u/s 254(2) of the Income Tax Act 1961 pointing out the mistake and if the Bench is convinced of the mistake, this order will be recalled and the appeals restored for fresh disposal on merits. & 2539/Del/2012 A.Y. 2004-05 and 2005-06 Cross Objections Nos. 244 and 245/Del/12 (In ITA 2538 & 2539/Del/12) Arihant Electricals, N.Del
Since we have dismissed the Revenue’s appeals, the C.Os. filed by the assessee have become infructuous and are dismissed as such.
In the result the Revenue’s appeals for the A.Y. 2004-05 and 2005- 06, as well as the assessee’s Cross Objections both are dismissed.
Order pronounced in the Open Court on 23rd February, 2016.