DCIT, Central Circle-19, New Delhi v. Subterranean Metaphysical Ltd
[Citation -2019-LL-0828-156]
| Citation | 2019-LL-0828-156 |
|---|---|
| Appellant Name | DCIT, Central Circle-19, New Delhi |
| Respondent Name | Subterranean Metaphysical Ltd. |
| Court | ITAT-Delhi |
| Relevant Act | Income-tax |
| Date of Order | 28/08/2019 |
| Assessment Year | 2009-10 |
| Judgment | View Judgment |
| Keyword Tags | monetary limit • tax effect |
| Bot Summary: | Lakshya Budhiraja, CA Date of Hearing 27/08/2019 Date of pronouncement 28/08/2019 ORDER PER BENCH : The present appeal s have been filed by the Revenue against the order of the ld. Since, the tax effect involved in all these appeals common in view of the CBDT circular, they were heard together and a re being disposed off by common order. According to Circul ar No. 17/201 9 dated 08/08/2019, the CBDT in supersessi on of earlier instructions has directed that department s appeal s before ITAT shall not be filed in cases where the tax effect does not exceed the monetary limit of Rs. 50 lacs. It is further clarified that even if in the case of an assessee, disputed issues arise in more than one assessment year, appeal cannot be filed in respect of such assessment year or years in which the tax effect in respect of disputed issues exceeds the monetary limit so specified. Admittedly, in the departmental appeals, the tax effect is less than Rs. 50 l acs, therefore , departmental appeal is not maintainable. As regards to the Cross Objections filed by the assessee is concerned, since we have already dismissed the appeal of the revenue as aforesaid on account of low tax effect. In the result, the appeals of the Revenue and CO of the assessee are dismissed. |