DCIT, Circle-1(1), New Delhi V. Abhipra Capital Ltd, New Delhi

ITA 2695/DEL/2022

AI Insights

The case involves an appeal by the Deputy Commissioner of Income Tax (DCIT), Circle \\u2013 1(1), New Delhi against Abhipra Capital Ltd. The appeal was directed against the order of the National Faceless Appeal Centre (NFAC), Delhi dated 21.09.2022 for the Assessment Year 2019-20. The primary issue was the maintainability of the appeal based on the tax effect involved. The revenue's appeal was dismissed as the tax effect was below the threshold of Rs. 50 lakhs as stipulated by the CBDT Circular No. 17/2019.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 115943 (ITAT-DELHI)
• Duration Of Justice: 6 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-05-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 24-05-2023
• Assessment Year: 2019-2020
• Appeal Filed On: 14-11-2022
• Laws Referred To: CBDT Circular No. 17/2019 dated 08.08.2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘A’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH.C.N. PRASAD, JUDICIAL MEMBER ITA No.2695/Del/2022 Assessment Year: 2019-20 DCIT Circle – 1(1) New Delhi Vs Abhipra Capital Ltd. GF 58-59, Barakhamba Lane, World Trade Centre, New Delhi-110001 PAN No.AABCA1702F (APPELLANT) (RESPONDENT) Appellant by Sh. Kanv Bali, Sr DR Respondent by Sh. V. Rajkumar, Advocate Date of hearing: 25/05/2023 Date of Pronouncement: 25/05/2023 ORDER PER N. K. BILLAIYA, AM: This appeal filed by the revenue is preferred against the order of National Faceless Appeal Centre (NFAC), Delhi dated 21.09.2022 for A.Y. 2019-20. 2. The grievance of the revenue read as under :- 2 3. A perusal of the grievance of the revenue show that the tax effect would be less than Rs. 50 lakhs, therefore, this appeal is not maintainable as per CBDT Circular No. 17/2019 dated 08.08.2019. 4. This appeal is, accordingly, dismissed with liberty to the revenue to approach the Tribunal as per the provisions of law, should it feel that the tax effect is more than Rs. 50 lakhs. 5. In the result, the appeal filed by the revenue is dismissed. 3 The order is pronounced in the open court on 25.05.2023 in the presence of both the rival representatives. Sd/- Sd/- (C.N. PRASAD) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER *NEHA* Date:- .05.203 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI