INCOME TAX OFFICER, WARD-3, KHANNA, KHANNA vs. THE SAHNEWAL KHURD CO-OP AGRI SERVICE SOCIETY LIMITED, VILLAGE SAHNHEWAL KHURD

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ITA 507/CHANDI/2024Status: DisposedITAT Chandigarh26 November 2024AY 2017-18Bench: SHRI RAJPAL YADAV (Vice President), SHRI KRINWANT SAHAY (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 held that the appeal filed by the Revenue was not maintainable as it did not meet the monetary limit specified by the CBDT circular. Therefore, the appeal was dismissed.

What were the facts?

The Revenue filed an appeal before the ITAT against the order of the CIT(A) for the assessment year 2017-18. The tax effect involved in the appeal was below the prescribed monetary limit for filing appeals.

What were the issues?

The primary issue was whether the Revenue's appeal was maintainable before the Tribunal considering the low tax effect in light of the CBDT circular on monetary limits.

AI-generated summary — verify with the full judgment below

आदेश/Order Per Krinwant Sahay, A.M.:

1.

Appeal in this case has been filed by the Revenue against the order of the ld. CIT(A) NFAC, Delhi dated 07.03.2024 pertaining to assessment year 2017-18.

2.

It is noted that the tax effect involved in the present appeal is below the prescribed monetary limit of Rs. 60 lacs for filing the appeal before the Tribunal. Accordingly, in 507-Chd-2024 The Sahnewal Khurd Co-op Agri Service Society Ltd, Ludhiana 2 terms of the CBDT Circular No.09/2024 dated 17.09.2024, wherein the Department has specified the monetary limit for an appeal to be filed by the Revenue before the ITAT as Rs. 60 lacs, the appeal so filed by the Revenue is not maintainable.

3.

In view of the above facts and circumstances, the present appeal filed by the Department is dismissed due to low tax effect with a liberty to seek recall in case the matter falls under any of the exceptions so carved out in the aforesaid circular.

4.

It is, however, clarified that the dismissal of the above appeal shall not be taken to be affirmation of the order of the CIT(A) on merits. The legal issue raised by the Revenue is being left open to be adjudicated in an appropriate case.

5.

In the result the appeal of the Revenue is dismissed.

Order pronounced on 26.11.2024.

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