DCIT, CENTRAL CIRCLE-8, DELHI vs. OPG SECURITIES PVT. LTD., DELHI

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ITA 53/DEL/2022Status: DisposedITAT Delhi15 September 2023AY 2012-13Bench: Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar (Accountant Member)2 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 Revenue's appeals were not maintainable as the tax effect in each case was below the prescribed monetary limit of Rs. 50 lacs. The Assessing Officer could not provide any exceptions to the circular.

What were the facts?

The Revenue filed appeals before the ITAT concerning multiple assessment years. The appeals were filed despite the tax effect in each case being below the monetary limit prescribed by CBDT Circular No. 17/2019.

What were the issues?

The primary issue was the maintainability of departmental appeals before the ITAT when the tax effect falls below the monetary limit specified by CBDT circulars.

Which sections of the Income-tax Act were involved?

Circular No. 17/2019

AI-generated summary — verify with the full judgment below

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

Before: Sh. C. M. GargDr. B. R. R. Kumar

For Appellant: CA &
Hearing: 18.07.2023Pronounced: 15.09.2023

Heard together (4 matters)

ITA No. 53/Del/2022
ITA No. 54/Del/2022
ITA No. 55/Del/2022
ITA No. 56/Del/2022

Read from the judgment's own cause title. This page is filed under one of them.

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member Asstt. Year : 2012-13 : Asstt. Year : 2013-14 ITA No. 55/Del/2022 : Asstt. Year : 2014-15 ITA No. 56/Del/2022 : Asstt. Year : 2015-16 DCIT, Vs OPG Securities Pvt. Ltd., 1st Floor, Asaf Ali Road, Central Circle-8, New Delhi-110055 New Delhi-110002 (APPELLANT) (RESPONDENT) PAN No. AAACO1081C Assessee by : Sh. Rajat Jain, CA & Sh. Akshat Jain, CA Revenue by : Sh. Subhra J. Chakraborty, CIT-DR Date of Hearing: 18.07.2023 Date of Pronouncement: 15.09.2023 ORDER Per Dr. B. R. R. Kumar, Accountant Member:

The present appeals have been filed by the Revenue against the orders of ld. CIT(A)-24, New Delhi dated 13.08.2021.

2.

Since, the issue involved in all these appeals are relating to low tax effect, they were heard together and being adjudicated by a common order.

3.

According to Circular No. 17/2019 dated 08/08/2019, the CBDT in supersession of earlier instructions has directed that department’s appeals before ITAT shall not be filed in cases where the tax effect does not exceed the monetary limit of Rs. 50 lacs. The tax will not include any interest thereon. It is , 58 & 59/Del/2022 2 OPG Securities Pvt. Ltd. further clarified that even if in the case of an assessee, disputed issues arise in more than one assessment year, appeal cannot be filed in respect of such assessment year or years in which the tax effect in respect of disputed issues exceeds the monetary limit so specified.

4.

Admittedly, in the departmental appeal, the tax effect is less than Rs. 50 lacs, therefore, departmental appeals are not maintainable. The Ld. DR could not bring to our notice any exceptions mentioned in the said Circular.

5.

In the result, the appeals of the Revenue are dismissed. Order Pronounced in the Open Court on 15/09/2023.

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