ACIT central circle-25, New delhi V. Stonex India Pvt Ltd, Delhi

ITA 1785/DEL/2022

• Counselvise Citation: [2023] 102 COUNSELVISE.COM (IT) 0606 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 2 month(s) 17 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-10-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 22-10-2023
• Assessment Year: 2018-2019
• Appeal Filed On: 04-08-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI “G” BENCH: NEW DELHI BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER & SHRI M.BALAGANESH, ACCOUNTANT MEMBER ITA No.1785/Del/2022 [Assessment Year : 2018-19] ACIT, Central Circle-25, New Delhi. vs Stonex India Pvt.Ltd., D-176, West Delhi Mansarovar Garden, S.O-Delhi, Delhi-1100015. PAN-AACCG9620R APPELLANT RESPONDENT Appellant by Shri Subhra Jyoti Chakraborty, CIT DR Respondent by None Date of Hearing 23.10.2023 Date of Pronouncement 23.10.2023 ORDER PER KUL BHARAT, JM : The present appeal filed by the Revenue is directed against the order of Ld.CIT(A)-29, New Delhi dated 16.06.2022 for the Assessment Year 2018-19. 2. The Revenue has raised following ground of appeal:- 1. “The tax effect in the case is Rs.57,36,431/- which is more than the minimum threshold limit of tax effect of Rs.50,00,000/- for filing appeal before ITAT as per CBDT Circular No.17/2019 dated 08.08.2019.” 3. At the time of hearing, no one attended the proceedings on behalf of the assessee. 4. However, Ld. Sr. DR for the Revenue pointed out that the present appeal is to be withdrawn as the tax effect involved in the case is below Rs.50 Lacs. 5. The CBDT vide Circular No.17/2019 dated 08.08.2019 has revised the monetary limit for filing the appeals before the Tribunal to Rs.50 Lacs. Further, CBDT vide letter dated 20.08.2019 has also clarified that Circular No.17/2019 Page | 2 would be applicable to all pending appeals. In such circumstances, the present appeal filed by the Revenue being of low tax effect is not maintainable. 6. Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribunal for re-institution of appeal, if the requisite material is brought to show that the appeal is protected by the exceptions prescribed in para 10 of the Circular dated 11.07.2018. 7. In conclusion, by applying the CBDT Circular dated 08.08.2019 and letter dated 20.08.2019 (supra), the captioned appeal of the Revenue is dismissed for being below the pecuniary limit. 8. In the result, appeal of the Revenue is dismissed. Order pronounced in the open Court on 23 rd October, 2023. Sd/- Sd/- (M.BALAGANESH) (KUL BHARAT) ACCOUNTANT MEMBER JUDICIAL MEMBER * Amit Kumar * Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI