ACIT, Delhi V. M/s. State Bank of India, New Delhi

MA 61/DEL/2020

AI Insights

The case involves the Assistant Commissioner of Income Tax (ACIT), Circle-77(1), New Delhi as the appellant and the State Bank of India as the respondent. Initially, the Income Tax Appellate Tribunal (ITAT) dismissed the appeal due to the low tax effect, which was below the monetary limit of Rs. 50,00,000 as per the CBDT Circular. However, it was later brought to attention that the actual tax effect was Rs. 55,52,409, exceeding the threshold. Consequently, the Revenue filed a Miscellaneous Application to recall the order, which was granted by the Tribunal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 121224 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 5 month(s) 11 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 30-07-2023
• Appeal Filed By: Department
• Order Result: Allowed
• Bench Allotted: G
• Next Hearing Date: 18-05-2023
• Assessment Year: misc
• Appeal Filed On: 18-02-2020
• Laws Referred To: CBDT Circular
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Dr. B. R. R. Kumar, Accountant Member Sh. Anubhav Sharma, Judicial Member MA No. 61/Del/2020 (In ITA No. 5658/Del/2016 : Asstt. Year: 2013-14) ACIT, Circle-77(1), New Delhi Vs. M/s State Bank of India, Officer Administrative Deptt. Local Head Office, 11, Sansad Marg, New Delhi (APPELLANT) (RESPONDENT) PAN No. AAACS8577K Assessee by : None Revenue by : Sh. Sumit Kumar Verma, Sr. DR Date of Hearing: 19.05.2023 Date of Pronouncement: 31.07.2023 ORDER Per Dr. B. R. R. Kumar, Accountant Member: This Miscellaneous Application arising out in ITA No. 5658/Del/2016 vide order dated 26.09.2019 which was disposed off by the Co-ordinate Bench of ITAT due to low tax effect. However, it is apparent from the record that the tax effect involved in the present case is Rs. 55,52,409/- which is above the monetary limit of Rs. 50,00,000/- as per the CBDT Circular. 3. In view of the above, we hereby recall the order and direct the Registry to fix the appeal in due course. MA No. 61/Del/2020 State Bank of India 2 5. In the result, the Miscellaneous Application of the Revenue is allowed. Order Pronounced in the Open Court on 31/07/2023. Sd/- Sd/- (Anubhav Sharma) (Dr. B. R. R. Kumar) Judicial Member Accountant Member Dated: 31/07/2023 *Subodh Kumar, Sr. PS* Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR