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Facts
The Revenue's appeal concerned a cash expenditure disallowance of Rs.1,26,28,000/- made by the Assessing Officer, which was deleted by the CIT(A). The appeal arose from assessment year 1999-2000.
Held
The Tribunal dismissed the Revenue's appeal. This was primarily because the tax effect of the appeal was less than the minimum prescribed by the CBDT's latest Circular No. 9/2024, which was applicable retrospectively to pending appeals.
Key Issues
Whether the appeal should be dismissed due to not meeting the minimum tax effect threshold prescribed by CBDT circular.
Sections Cited
158BC, 254
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Income Tax Appellate Tribunal, DELHI BENCH ‘B’, NEW DELHI
Before: Sh. Satbeer Singh Godara & Sh. Manish Agarwal
ORDER
Per Satbeer Singh Godara, Judicial Member:
This Revenue’s appeal for Assessment Year 1999-2000, arises against the CIT(A)-31, Delhi’s DIN & order No. ITBA/APL/S/250/2024-25/1070337193(1) dated 13.11.2024, in proceedings u/s 158BC r.w.s. 254 of the Income Tax Act, 1961 (in short “the Act”).
Heard both the parties at length. Case file perused.
Coming to the Revenue’s sole substantive ground seeking to revive the Assessing Officer’s action making the assessee’s cash expenditure payments disallowance of Rs.1,26,28,000/- which has been deleted in the CIT(A)’s lower appellate discussion, we note that the necessary tax thereon comes to be
Learned Departmental Representative is indeed very fair in not disputing the fact that the CBDT's foregoing tax effect circular has been made applicable with retrospective effect on all pending appeals as well. We thus reject the Revenue's instant appeal for this precise reason subject to all just exceptions.