KIRLOSKAR ELECTRONIC COMPANY LIMITED,BENGALURU V. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-4(3)(1), BENGALURU, BENGALURU

CO 27/BANG/2024

AI Insights

The case involves an appeal by the Revenue against an order passed by the CIT(A) under section 250 of the Income Tax Act for the Assessment Year 2011-12. The Revenue's appeal was found to be below the monetary threshold of Rs. 60,00,000 set by the CBDT Circular No.9/2024 for filing appeals. The assessee, M/s. Kirloskar Electric Company Ltd., also filed a Cross Objection supporting the CIT(A)'s decision. Both the appeal and the Cross Objection were heard and decided on 14.10.2024.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 37680 (ITAT-BANGALORE)
• Duration Of Justice: 3 month(s) 4 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 14-10-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 14-10-2024
• Assessment Year: 2011-2012
• Appeal Filed On: 10-07-2024
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: SACHIN MEHTA
• Keywords: Tax effect
• Section: 250

Judgement Text

"IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH : BANGALORE BEFORE SHRI GEORGE GEORGE K, VICE PRESIDENT AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER ITA No.1127/Bang/2024 Assessment Year : 2011-12 DCIT, Circle - 4(3)(1), Bangalore. Vs. M/s. Kirloskar Electric Company Ltd., No.5555, Malleshwaram West, Bangalore – 560 055. PAN : AABCK 2721 Q APPELLANT RESPONDENT CO No.27/Bang/2024 (in ITA No. 1127/Bang/2024) Assessment Year : 2011-12 M/s. Kirloskar Electric Company Ltd., Bangalore – 560 055. PAN : AABCK 2721 Q Vs. DCIT, Circle - 4(3)(1), Bangalore. APPELLANT RESPONDENT Assessee by : Shri. Sachin Mehta, CA Department by : Ms. Neha Sahay, JCIT(DR)(ITAT), Bangalore. Date of hearing : 14.10.2024 Date of Pronouncement : 14.10.2024 O R D E R Per George George K, Vice President : This appeal at the instance of the Revenue and the Cross Objection (CO) preferred by the assessee are directed against CIT(A)’s Order dated 19.07.2023 passed under section 250 of the Act. The relevant Assessment Year is 2011-12. ITA No.1127/Bang/2024 CO No.27/Bang/2024 (in ITA No. 1127/Bang/2024) Page 2 of 3 2. At the very outset, the learned AR submitted that appeal by the Revenue is below the monetary limit prescribed by the Board Circular No.9/2024 dated 17.09.2024 for filing the appeal before the Tribunal. The assessee had worked out a tax effect with regard to the appeal filed by the Department which is less than Rs.60,00,000/- prescribed by the Board Circular No.9/2024 (supra). 3. The learned DR, on the other hand, has filed a report from the AO. The AO in report admits that tax effect in this case is below Rs.60,00,000/- and does not come under the exception clause prescribed in Circular No.5/2024 dated 15.03.2024 whereby appeal can be preferred irrespective of the tax effect being below the monetary limit prescribed. 4. We have heard the rival submissions and perused the material on record. Admittedly, in this case, the tax effect in the appeal filed by the Department is Rs.54,69,815/-. The CBDT Circular No.9/2024 dated 17.09.2024 had prescribed a monetary limit / tax effect exceeding Rs.60,00,000/- or above for filing an appeal before the Tribunal. The said Circular No.9/2024 apply to the pending appeals before the Supreme Court / High Court / Tribunal (Refer para 5 of Circular). Since the case of the Revenue does not come under the exception clause mentioned in Circular No.5/2024, we dismiss the appeal of the Revenue. It is ordered accordingly. ITA No.1127/Bang/2024 CO No.27/Bang/2024 (in ITA No. 1127/Bang/2024) Page 3 of 3 CO No.27/Bang/2024 5. The assessee’s CO is essentially supporting the Order of the CIT(A). Since we have dismissed the Revenue’s appeal, the CO is rendered infructuous and same is dismissed. 6. In the result, the appeal of the Revenue and CO preferred by the assessee are dismissed. Pronounced in the open court on the date mentioned on the caption page. Sd/- Sd/- (LAXMI PRASAD SAHU) (GEORGE GEORGE K) Accountant Member Vice President Bangalore, Dated : 15.10.2024. /NS/* Copy to: 1. Appellant 2. Respondent 3. CIT 4. CIT(A) 5. DR, ITAT, Bangalore. By order Assistant Registrar ITAT, Bangalore. "