RAM SINGH, NEW DELHI V. ACIT, CIRCLE- 28(1), NEW DELHI

ITA 4897/DEL/2018

AI Insights

The case involves an appeal by the Revenue against the order of the Commissioner of Income Tax (Appeals)-31, New Delhi, concerning the assessment year 2012-13. The primary contention was whether the tax effect involved in the appeal justified its maintainability under the revised monetary limits set by the CBDT Circular No. 17/2019. The assessee's counsel argued that the tax effect was below the threshold of Rs. 50 lakhs, supported by detailed calculations. The Senior Departmental Representative did not contest this factual position. Consequently, the Tribunal dismissed the appeal, emphasizing adherence to the monetary limits prescribed by the CBDT Circular.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 112801 (ITAT-DELHI)
• Duration Of Justice: 4 year(s) 6 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-01-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: F
• Next Hearing Date: 18-01-2023
• Assessment Year: 2012-2013
• Appeal Filed On: 08-07-2018
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect; Tax effect; Capital Gains
• Section: 54F; 250

Judgement Text

1 ITA no. 4897/Del/2018 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “F”: NEW DELHI BEFORE SHRI NARENDER KUMAR CHOUDHRY, JUDICIAL MEMBER AND Dr. B.R.R. KUMAR, ACCOUNTANT MEMBER ITA No. 4897/Del/2018 [Assessment Year: 2012-13] ACIT, Circle 28(1), New Delhi. Vs Ram Singh, 495, Main Market, Badarpur, New Delhi. PAN:AATPS6333H APPELLANT RESPONDENT Assessee represented by: Sh. Anil Jain, CA Department represented by: Sh. S.L. Verma, Sr. DR Date of hearing 19.01.2023 Date of pronouncement 30.01.2023 O R D E R PER N.K.CHOUDHRY, JM: The Revenue/Department has preferred the instant appeal against the order dated 25.04.2018, passed by the Ld. Commissioner of Income tax (Appeals)-31, New Delhi, (in short “Ld. Commissioner”) u/s 250 of the Income Tax Act, 1961 (in short “the Act”), pertaining to the assessment year 2012-13. 2 ITA no. 4897/Del/2018 2. At the outset, learned counsel for the assessee submitted that the tax effect involved in the appeal of the Revenue is below Rs. 50 lakhs. In support of his contention the learned counsel has also filed working of monetary limits as reproduced below: Amount Tax Cess Surcharge Total 20% 3% (2+1) Tax on exemption u/s 54F LTCG 21210000 4242000 127260 0 4369260 Allowed by CIT(A) Alternative total Addition of long term Capital gains 2,13,49,476 4269990 128097 0 4398087 4269990 128097 NIL 4398087 Monetary limits 5000000 As per circular no 17/2019 dated 08/08/2019 Appeal below monetary limits “ 3. Learned counsel submitted that the tax effect involved in the grounds raised by the Revenue being less than Rs. 50,00,000/-, the appeal of the Revenue is not maintainable in view of the CBDT Circular No. 17/2019 dated 8 th August, 2019, revising the monetary limit for filing of the departmental appeals to the ITAT at Rs. 50 lakhs. 4. The learned Sr. DR could not dispute the aforesaid factual position that the tax effect involved in the instant appeal is less than Rs. 50 lakhs. 5. In view of the above factual position, the tax effect involved in the appeal being less than Rs. 50 lakhs, we deem it proper to dismiss the appeal of the Revenue in the light of the CBDT Circular No. 17/2019 dated 8 th August, 2019, as not maintainable. However, if on a later date, the Revenue 3 ITA no. 4897/Del/2018 finds that the tax effect in dispute in the aforesaid appeal is more than the limit prescribed or it is protected by any of the exceptions provided in the CBDT Circular, it shall be at liberty to approach the Tribunal for recall of the order and reinstitution of the appeal for adjudication on merits. The Tribunal shall consider such application, as per the extant law. 6. In the result, in view of the aforesaid discussion, the Revenue’s appeal stands dismissed. Order pronounced in open court on 30.01.2023. Sd/- Sd/- (Dr. B.R.R. KUMAR) (N.K.CHOUDHRY) ACCOUNTANT MEMBER JUDICIAL MEMBER *MP* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT, NEW DELHI