INCOME TAX OFFICER, WARD 1(1), NASHIK, NASHIK vs. HARMEETSINGH HARDEVSINGH KOHLI, NASHIK

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ITA 1103/PUN/2023Status: DisposedITAT Pune10 October 2024AY 2017-18Bench: SHRI SATBEER SINGH GODARA (Judicial Member), DR. DIPAK P. RIPOTE (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 noted that the tax effect was below the threshold limit prescribed by the CBDT for filing appeals. Therefore, the Revenue's appeal was not maintainable.

What were the facts?

The Revenue appealed against the deletion of an addition of Rs. 89,34,750/- made by the Assessing Officer on account of unexplained income and cash deposits. The tax effect involved in the appeal was Rs. 56,59,158/-.

What were the issues?

The primary issue was the maintainability of the Revenue's appeal before the Tribunal due to the tax effect being below the CBDT's prescribed monetary limit.

Which sections of the Income-tax Act were involved?

Section 69A

AI-generated summary — verify with the full judgment below

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

Before: SHRI SATBEER SINGH GODARA & DR. DIPAK P. RIPOTE

Hearing: 03.10.2024Pronounced: 10.10.2024

Appeal Centre [in short the “NFAC”] Delhi’s Din and Order No. ITBA/NFAC/S/250/2023-24/1055284214(1), dated 21.08.2023, in proceedings u/s. 143(3) of the Income Tax Act, 1961 (in short “the Act”).

Heard both the parties. Case file perused.

2.

The Revenue’s sole substantive grievance raised herein seeks to reverse the Ld. CIT(A)'s action in deleting the 2 ITA.No.1103/PUN./2023 addition of Rs.89,34,750/- made by the Assessing Officer on account of income from unexplained source and cash deposited in bank u/sec.69A of the Act.

3.

Learned counsel drew the attention of the Bench that the tax effect involved in the instant appeal is Rs.56,59,158/- and therefore, the Revenue’s instant appeal is not maintainable in view of CBDT’s latest Circular no.F.No.279/Misc./M-74/2024-ITJ dated 17.09.2024 wherein the CBDT has prescribed the tax limit up-to 60 lakhs even for the pending appeals before the tribunal, to which, the learned DR has no objection.

4.

That being the case, there would be hardly any denial to the clinching fact that the tax effect comes to less than Rs.60 lakhs as per the CBDT’s circular dated 17.09.2024 (supra), made applicable to all pending appeals as well. We accordingly reject the Revenue’s instant appeal in very terms.

Ordered accordingly.

3. This Revenue’s appeal is dismissed in above terms subject to all just exceptions.

Order pronounced in the open Court on 10.10.2024.

Sd/- Sd/- [DR. DIPAK P. RIPOTE] [SATBEER SINGH GODARA] ACCOUNTANT MEMBER JUDICIAL MEMBER Pune, Dated 10th October, 2024 VBP/-

3 ITA.No.1103/PUN./2023 Copy to

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