ACIT CORP CIRCLE 4.1, CHENNAI, CHENNAI V. MADRAS CRICKET CLUB, CHENNAI

ITA 1983/CHNY/2024

AI Insights

The case involves an appeal by the Revenue against the order of the Learned Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi, which had confirmed the addition of an entrance fee of Rs. 1,93,36,486 to the assessee, Madras Cricket Club, for the Assessment Year 2009-10. The appeal was initially delayed by 175 days, for which a condonation petition was filed and accepted. However, the substantive issue of the appeal became moot when it was found that the tax effect involved was less than Rs. 60 lakhs, leading to the dismissal of the appeal based on the CBDT's revised monetary threshold for filing appeals.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 107274 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-10-2024
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 15-10-2024
• Assessment Year: misc
• Appeal Filed On: 22-07-2024
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: R.ANITA
• Keywords: Tax effect
• Section: 147

Judgement Text

"आयकर अपीलीय अिधकरण, ‘सी’ \u0011ा यपीठ, चे\u0016ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI \u0019ी महा वीर िसंह, उपा \u001f एवं \u0019ी जगदीश, लेखा सद' क े सम BEFORE SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI JAGADISH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.1983/Chny/2024 िनधा ;रण वष; /Assessment Year: 2009-10 The Asst. Commissioner of Income Tax, Circle-4(1), Chennai. Vs. Madras Cricket Club, No.1, Bells Road, Chepauk, Chennai – 600 005. [PAN: AACCM 6390R] (अपीलाथ\u0007/Appellant) (\b\tयथ\u0007/Respondent) अपीला थG की ओर से/ Appellant by : None IJथG की ओर से /Respondent by : Ms. R. Anita, Addl. CIT सुनवा ई की ता रीख/Date of Hearing : 15.10.2024 घोषणा की ता रीख /Date of Pronouncement : 25.10.2024 आदेश / O R D E R PER JAGADISH, A.M : Aforesaid appeal filed by the Revenue for Assessment Year (AY) 2009-10 arises out of the order of Learned Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi, [hereinafter “CIT(A)”] dated 22.02.2017. 2. There is a delay of 175 days in filing the appeal by the Revenue. The Revenue has filed condonation petition stating the reasons for delay in filing the appeal. We have considered the petition of delay in filing the appeal and satisfied that there was sufficient cause for not ITA No.1983/Chny/2024 :- 2 -: filing the appeal within the prescribed time limit. Hence, the delay is condoned accordingly. 3. The appeal filed by the Revenue is against the order of Ld. CIT(A) confirming the addition on entrance fee of Rs. 1,93,36,486/-. The A.O in the assessment order passed u/s. 143 r.w.s 147 of the Act has added the entrance fee of Rs. 1,91,36,486/-. The assessee has filed appeal before Ld. CIT(A), the Ld. CIT(A) has allowed the assessee’s appeal. Now, the Revenue is in further appeal before us. 4. The Ld. Authorized Representative (A.R) of the assessee at the outset submitted the tax effect as reported by Ld A.O in Form 36 is at Rs. 57,40,945/-, which is less than Rs. 60 lakhs as per the CBDT vide Circular No.09 of 2024 dated 17.09.2024 therefore, appeal need to be withdrawn. 5. The Ld. Departmental Representative (DR) could not controvert the fact that addition made by the AO is Rs 1,91,36,486 and the disputed tax reported in form 36 is less than 60 lakhs.. 6. We have heard the rival submissions, and perused the materials available on record. The tax effect involved in revenue appeal is less than Rs 60 Lkah. The CBDT vide Circular No.09 of 2024 dated ITA No.1983/Chny/2024 :- 3 -: 17.09.2024 has increased the monetary limit for filing the appeal by the Revenue before the ITAT to Rs. 60 Lakhs. In the said circular, it is stated that in cases where the tax effect in the appeal to be filed before the Appellate Tribunal does not exceed Rs. 60 lakhs appeals should not be filed. Thus, taking note of CBDT Circular No. 09 of 2024 dated 17.09.2024 and considering the fact that the tax effect in the instant appeal is less than Rs. 60 lakhs, the present appeal deserves to be dismissed as withdrawn / not maintainable. However, we make it clear that the issues raised in the instant appeal is left open to be examined in the appropriate proceedings, if arises, in future. At the same time, we also make it clear that if the appeal fall in any of the exceptions referred to in the above said CBDT Circular, the Revenue is at liberty to move an application for recalling the order, if so advised. Accordingly, in the light of CBDT circular No. 09 of 2024 dated 17.09.2024, this appeal stands dismissed. 7. In the result, the appeal filed by the Revenue is dismissed. Order pronounced on 25th October, 2024. Sd/- Sd/- (महा वीर िसंह) (Mahavir Singh) उपा \u001f / Vice President (जगदीश) (Jagadish) लेखा लेखा लेखा लेखा सद\u0003य सद\u0003य सद\u0003य सद\u0003य /Accountant Member चे\u0003ई/Chennai, \u0005दनांक/Dated: 25th October, 2024. EDN/- ITA No.1983/Chny/2024 :- 4 -: आदेश क\u0002 \u0003ितिलिप अ\tेिषत/Copy to: 1. अपीलाथ\u0007/Appellant 2. \b\tथ\u0007/Respondent 3. आयकर आयु\u000f/CIT, Chennai 4. िवभागीय \bितिनिध/DR 5. गाड\u0018 फाईल/GF "