M/s. Accord Overseas Pvt. Ltd., Delhi V. ITO, New Delhi

CO 84/DEL/2022

AI Insights

This case involves an appeal by the Income Tax Officer (ITO), Ward-1(3), New Delhi against Accord Overseas Pvt. Ltd., concerning an assessment year 2006-07. The Revenue's appeal was based on the grounds raised in the original assessment, which were contested by the assessee. However, the Revenue conceded that the tax effect involved was below the threshold of Rs. 50 lakhs as per the recent CBDT Circular No.17/2019, which raised the monetary limit for filing appeals by the Revenue before the Tribunal. Consequently, both the appeal by the Revenue and the Cross Objection by the assessee were dismissed.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 115702 (ITAT-DELHI)
• Duration Of Justice: 6 month(s) 28 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 14-02-2023
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 07-02-2023
• Assessment Year: 2006-2007
• Appeal Filed On: 17-07-2022
• Laws Referred To: CBDT Circular No.17/2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH : A : NEW DELHI BEFORE SHRI C.M. GARG, JUDICIAL MEMBER AND DR. B.R.R. KUMAR, ACCOUNTANT MEMBER ITA No.5207/Del/2015 Assessment Year: 2006-07 ITO, Ward-1(3), New Delhi. Vs. Accord Overseas Pvt. Ltd., C-18/2, Wazirpur Indl. Area, Delhi -110 052. PAN: AABCA8860G CO No.84/Del/2022 (ITA No.5207/Del/2015) Assessment Year: 2006-07 Accord Overseas Pvt. Ltd., C-18/2, Wazirpur Indl. Area, Delhi -110 052. PAN: AABCA8860G Vs. ITO, Ward-1(3), New Delhi. (Appellant) (Respondent) Assessee by : Shri Anil Jain, CA Revenue by : Shri Kanav Bali, Sr. DR Date of Hearing : 08.02.2023 Date of Pronouncement : 15.02.2023 ORDER PER C.M. GARG, JUDICIAL MEMBER: This appeal filed by the Revenue and the CO filed by the assessee are directed against the order dated 11.06.2015 of the CIT(A)-1, New Delhi, relating to Assessment Year 2006-07. ITA No.5207/Del/2015 CO No.84/Del/2022 2 2. The ld. counsel for the assessee, at the outset, submitted that the tax effect involved in the grounds raised by the Revenue is below Rs.50 lakhs. Therefore, in view of the recent CBDT Circular No.17/2019 dated 8 th August, 2019, raising the monetary limit for filing of the appeal by the Revenue before the Tribunal to Rs.50 lakhs and the subsequent clarification of the CBDT, vide Notification dated 20 th August, 2019 stating that the said Circular is applicable even to pending appeals, the appeal filed by the Revenue is not maintainable. 3. The ld. DR, on the other hand, fairly conceded that the tax effect involved in the grounds raised by the Revenue being below Rs.50 lakhs, the appeal filed by the Revenue squarely falls within the ambit of the recent CBDT Circular No.17/2019 dated 8 th August, 2019 and the subsequent clarification dated 20 th August, 2019. 4. After hearing both the sides, we find the tax effect involved in the grounds raised by the Revenue is admittedly below Rs.50 lakhs. Therefore, in view of the CBDT Circular No.17/2019 dated 8 th August, 2019 raising the monetary limit for filing of the appeals by the Revenue before the Tribunal to Rs.50 lakhs and the subsequent clarification dated 20 th August, 2019 to the effect that the said Circular is applicable even to pending appeals, the appeal filed by the Revenue is not maintainable. Accordingly, the same is dismissed. 5. However, if the Revenue at any point of time finds that the tax effect involved in the grounds of the Revenue is more than Rs.50 lakhs or that the same is falling under the exceptions provided in the said Circular, the Revenue may move necessary application for recall of this order. ITA No.5207/Del/2015 CO No.84/Del/2022 3 CO No.84/Del/2022 6. At the time of hearing, the ld. Counsel did not press the Cross Objection filed by the assessee. Hence, the same is dismissed as ‘not pressed.’ 7. In the result, both the appeal filed by the Revenue as well as the CO filed by the assessee are dismissed. Order pronounced in the open court on 15 th February, 2023. Sd/- Sd/- (B.R.R. KUMAR) (C.M. GARG) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated: 15 th February, 2023. dk Copy forwarded to : 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR Asstt. Registrar, ITAT, New Delhi