SRC BUILDTECH PVT. LTD.,NEW DELHI V. DCIT, CENTRAL CIRCLE-31, NEW DELHI

CO 147/DEL/2022

AI Insights

The case involves appeals by the revenue and cross objections by the assessee, M/s SRC Buildtech Pvt. Ltd., against the order passed by the CIT(A)-30, related to the Assessment Orders for the Assessment Years 2013-14 & 2016-17 under section 153A of the Income Tax Act. The primary contention was the tax effect on the amount disputed by the Revenue, which was below the threshold of Rs. 60,00,000 set by the CBDT Circular for filing appeals. Both parties acknowledged this fact during the proceedings.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 34409 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 1 month(s) 14 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 25-11-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: H
• Next Hearing Date: 12-08-2024
• Assessment Year: 2013-2014
• Appeal Filed On: 11-10-2022
• Laws Referred To: Income Tax Act
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: MUKESH KUMAR JHA
• Assessee Lawyers: VED JAIN; AMAN GARG
• Keywords: Tax effect

Judgement Text

"P a g e | 1 ITA No.1310/Del/2021 CO.147/Del/2022 DCIT, Cc-31 Vs. M/s SRC Buildtech Pvt.Ltd. IN THE INCOME TAX APPELLATE TRIBUNAL “H” BENCH, DELHI BEFORE MS. MADHUMIT ROY, JUDICIAL MEMBER AND SHRI BRAJESH KUMAR SINGH, ACCOUNTANT MEMBER ITA No.1310 & 1316/Del/2021 (A.Y 2013-14 & 2016-17) DCIT, CC-31 Room No. 343, E-2, ARA Centre, Jhandewala Extn New Delhi – 110055 Vs. M/s SRC Buildtech Pvt. Ltd., Shop No.2/276A, Upper Ground Floor, Masjid Moth, South Extension Part-1 Delhi - 110049 \u0001थायी लेखा सं./जीआइआर सं./PAN/GIR No.: AAKCS8790G Appellant .. Respondent C.O. No.147 & 149/Del/2022 (A.Y 2013-14 & 2016-17) M/s SRC Buildtech Pvt. Ltd., Shop No.2/276A, Upper Ground Floor, Masjid Moth, South Extension Part-1 Delhi - 110049 Vs. DCIT, CC-31 Room No. 343, E-2, ARA Centre, Jhandewala Extn New Delhi – 110055 \u0001थायी लेखा सं./जीआइआर सं./PAN/GIR No.: AAKCS8790G Appellant .. Respondent Appellant by : Sh. Ved Jain, Adv & Sh. Aman Garg, CA Respondent by : Sh. Mukesh Kumar Jha, CIT DR Date of Hearing 04.11.2024 Date of Pronouncement 25.11.2024 P a g e | 2 ITA No.1310/Del/2021 CO.147/Del/2022 DCIT, Cc-31 Vs. M/s SRC Buildtech Pvt.Ltd. O R D E R PER BENCH: The present appeals filed by the revenue and cross objections filed by the assessee are directed against the order passed by the CIT(A)-30, arising out of the Assessment Order for A.Y. 2013-14 & 2016-17 u/s 153A of the Act. 2. At the outset, learned counsel appearing for the assessee submitted that the tax effect on the amount disputed by the Revenue in the present appeal is below the monetary limit of Rs.60,00,000/-. Hence, appeal is not maintainable. 3. Learned Departmental Representative fairly accepted the aforesaid factual position. However, he submitted, liberty may be granted to Revenue to revive the appeal, in case, subsequently it is found that the tax effect on the amount disputed is more than Rs. 60,00,000/- or the appeal is covered by any of the exceptions provided to the tax effect circular. 4. We have considered the rival submissions and perused the materials on record. After perusing the respective orders of the departmental authorities and the facts mentioned in the memorandum of appeal filed in Form No. 36, we find that the tax effect on the amount disputed by the Revenue in the present appeal is below the monetary limit of Rs.60,00,000/- fixed in CBDT Circular no. 05/2024 dated 15.03.2024 for filing an appeal before the Tribunal. There is nothing on record to suggest that the appeal of Revenue is protected by any of the exceptions to the aforesaid circular. Thus, in our view, the present P a g e | 3 ITA No.1310/Del/2021 CO.147/Del/2022 DCIT, Cc-31 Vs. M/s SRC Buildtech Pvt.Ltd. appeal is covered under CBDT Circular no. 05/2024 dated 15.03.2024. Accordingly, the appeal is deemed to have been withdrawn, hence, dismissed. However, liberty is granted to the Revenue to seek revival of the appeal is protected under any of the exceptions provided to the Circular noted above. 5. In view of the appeals being dismissed due to low tax effect the Cross Objections in respect of the same appeals is found to be erroneous and hence, dismissed as infructous. Order pronounced in the open Court on 25.11.2024 Sd/- Sd/- (Brajesh Kumar Singh) (Madhumita Roy) Accountant Member Judicial Member Date 25.11.2024 Rohit: PS Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI "