ACIT, New Delhi V. M/s. Continental Foundation Joint Venture, New Delhi

MA 53/DEL/2021

AI Insights

The case involves the Income Tax Department (ACIT, Circle-30(1), New Delhi) as the appellant and M/s Continental Foundation Joint Venture as the respondent. The core issue arose from the revenue's appeal, which was initially dismissed or not pursued due to the tax effect being below the threshold set by the CBDT Circular. However, upon reassessment, it was determined that the tax effect was indeed more than the prescribed limit, prompting the recall of the appeal for a fresh adjudication. The hearing took place on 30.06.2023, and the order was pronounced on 13.09.2023.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 116083 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 6 month(s) 4 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 11-09-2023
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 29-06-2023
• Assessment Year: 2007-2008
• Appeal Filed On: 07-03-2021
• Laws Referred To: CBDT Circular No. 17/2019 dated 08.08.2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘B’, NEW DELHI Before Sh. C. M. Garg, Judicial Member Dr. B. R. R. Kumar, Accountant Member MA No. 53/Del/2021 (In ITA No. 111/Del/2017 : Asstt. Year: 2007-08) ACIT, Circle-30(1), New Delhi Vs. M/s Continental Foundation Joint Venture, 28, Nehru Place, New Delhi-110019 (APPELLANT) (RESPONDENT) PAN No. AAAAC0084D Assessee by : None Revenue by : Sh. Om Prakash, Sr. DR Date of Hearing: 30.06.2023 Date of Pronouncement: 13.09.2023 ORDER Per Dr. B. R. R. Kumar, Accountant Member: Since, the tax effect is more than the limit prescribed by the CBDT Circular No. 17/2019 dated 08.08.2019, the appeal of the revenue is hereby recalled to be adjudicated afresh. The Registry is directed to issue notice afresh. 2. In the result, the Miscellaneous Application of the assessee is allowed. Order Pronounced in the Open Court on 13/09/2023. Sd/- Sd/- (C. M. Garg) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 13/09/2023 *Subodh Kumar, Sr. PS*