Request of dismissal of the Revenue’s appeal on account of low tax effect.

Last updated: 19 April 2021

Court :
ITAT New Delhi

Brief :
This appeal is filed by the assessee against the order of the ld CIT(A)-38, New Delhi dated 11/09/2017 for Assessment Year 2013-14.

Citation :
ITA 7535/DEL/2017

INCOME TAX APPELLATE TRIBUNAL
[ DELHI BENCH “E”: NEW DELHI ]

BEFORE SHRI KUL BHARAT, JUDICIAL MEMBER
A N D
SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER
(Through Video Conferencing)

ITA. Nos. 7535/Del/2017
(Assessment Year : 2013-14)

ACIT,
Circle : 19 (1)
New Delhi.
( Appellant )

Vs.

Oneworld Corporation Pvt.
Ltd., A–4,
G.T. Karnal Road Indl. Area,
New Delhi – 110 033.
PAN: AADCA8924F
( Respondent )

Assessee by : Shri S. B. Gupta, C.A.;
Revenue by: Ms. Aman Preet, Sr. D.R.C ;

Date of Hearing 26/03/2021
Date of pronouncement 26/03/2021

O R D E R

PER PRASHANT MAHARISHI, A.M.

1. This appeal is filed by the assessee against the order of the ld CIT(A)-38, New Delhi dated 11/09/2017 for Assessment Year 2013-14.

2. At the time of hearing, the learned Counsel for the assessee submitted thattax effect involved in this appeal is below the prescribed limit of Rs.50 lakhs,as fixed by the CBDT and requested to dismiss the Revenue’s appeal on account of low tax effect.

3. Perusal of the aforesaid appeal filed by the Revenue apparently show that the same is having low tax effect as per CBDT Circular No.17/2019 dated 8th August, 2019 vide which the Revenue has been directed not to prefer any appeal in case the tax effect is less than Rs.50,00,000/- and this factual position has been fairly conceded by the learned [CIT] – Departmental Representative.

To know more in details find the attachment file