DCIT, Central Circle-8, Delhi V. OPG Securities Pvt. Ltd. , Delhi

ITA 55/DEL/2022

AI Insights

The case involves multiple appeals by the Revenue against OPG Securities Pvt. Ltd. concerning the assessment years 2012-13 to 2015-16. The core issue in these appeals was the low tax effect, which was below the threshold of Rs. 50 lakhs set by the CBDT's Circular No. 17/2019 for filing appeals before the ITAT. The Revenue could not demonstrate any exceptions that would allow for the appeals to proceed despite the monetary limit. Consequently, the tribunal dismissed the appeals, adhering strictly to the guidelines provided in the circular.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 116357 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 8 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-09-2023
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: E
• Next Hearing Date: 17-07-2023
• Assessment Year: 2014-2015
• Appeal Filed On: 09-01-2022
• Laws Referred To: Circular No. 17/2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SUBHRA J. CHAKRABORTY
• Keywords: Tax effect; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member ITA No. 53/Del/2022 : Asstt. Year : 2012-13 ITA No. 54/Del/2022 : Asstt. Year : 2013-14 ITA No. 55/Del/2022 : Asstt. Year : 2014-15 ITA No. 56/Del/2022 : Asstt. Year : 2015-16 DCIT, Central Circle-8, New Delhi-110055 Vs OPG Securities Pvt. Ltd., 1 st Floor, Asaf Ali Road, New Delhi-110002 (APPELLANT) (RESPONDENT) PAN No. AAACO1081C Assessee by : Sh. Rajat Jain, CA & Sh. Akshat Jain, CA Revenue by : Sh. Subhra J. Chakraborty, CIT-DR Date of Hearing: 18.07.2023 Date of Pronouncement: 15.09.2023 ORDER Per Dr. B. R. R. Kumar, Accountant Member: The present appeals have been filed by the Revenue against the orders of ld. CIT(A)-24, New Delhi dated 13.08.2021. 2. Since, the issue involved in all these appeals are relating to low tax effect, they were heard together and being adjudicated by a common order. 3. According to Circular No. 17/2019 dated 08/08/2019, the CBDT in supersession of earlier instructions has directed that department’s appeals before ITAT shall not be filed in cases where the tax effect does not exceed the monetary limit of Rs. 50 lacs. The tax will not include any interest thereon. It is ITA Nos. 58, 58 & 59/Del/2022 OPG Securities Pvt. Ltd. 2 further clarified that even if in the case of an assessee, disputed issues arise in more than one assessment year, appeal cannot be filed in respect of such assessment year or years in which the tax effect in respect of disputed issues exceeds the monetary limit so specified. 4. Admittedly, in the departmental appeal, the tax effect is less than Rs. 50 lacs, therefore, departmental appeals are not maintainable. The Ld. DR could not bring to our notice any exceptions mentioned in the said Circular. 5. In the result, the appeals of the Revenue are dismissed. Order Pronounced in the Open Court on 15/09/2023. Sd/- Sd/- (C. M. Garg) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 15/09/2023 *Subodh Kumar, Sr. PS* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR