ITO, NEW DELHI vs. SH. AJAY GUPTA, NEW DELHI

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ITA 2115/DEL/2014Status: DisposedITAT Delhi08 February 2016AY 2005-063 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 dismissed the appeals filed by the Revenue. The dismissal was based on the fact that the tax effect did not exceed the monetary limit prescribed by the CBDT circular, making the appeals not maintainable.

What were the facts?

The Revenue filed appeals for Assessment Years 2005-06 and 2006-07. The tax effect in these appeals was below the monetary limit specified by CBDT Circular No. 21/2015.

What were the issues?

Whether appeals filed by the Revenue are maintainable when the tax effect is below the monetary limit specified by CBDT circulars.

Which sections of the Income-tax Act were involved?

Section 268A,Section 254(2)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH ‘A’, NEW DELHI

Before: SHRI J. SUDHAKAR REDDY & SHRI SUDHANSHU SRIVASTAVA&

PER J.SUDHAKAR REDDY, ACCOUNTANT MEMBER

1.

These are appeals filed by the Revenue directed against the order dt. 29.1.2014 of Ld.CIT(A)-IV, New Delhi for Assessment Years 2005-06 and 2006-07 pertaining to the same assessee. 1.1. The tax effect in these appeals by the Revenue does 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.

& 2116/Del/14 A.Y. 2005-06 & 2006-07 Sh. Ajay Gupta, N.Del 2. The Ld.Sr.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) for both the A.Ys 2005-06 and 2006-07.

2.1. Hence we dismiss these appeals filed by the Revenue for the A.Ys 2005-06 and 2006-07, on the ground that the tax effect in the present appeals does 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.

2.2. In case there is a mistake in the calculation or if the case is 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.

3.

In the result both the Revenue’s appeals for the A.Ys 2005-06 and 2006-07, are dismissed.

Order pronounced in the Open Court on 08th February, 2016.

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