DCIT, International Taxation-2, Hyderabad v. Nakul Raheja
[Citation -2019-LL-1001-170]
Citation | 2019-LL-1001-170 |
---|---|
Appellant Name | DCIT, International Taxation-2, Hyderabad |
Respondent Name | Nakul Raheja |
Court | ITAT-Hyderabad |
Relevant Act | Income-tax |
Date of Order | 01/10/2019 |
Assessment Year | 2014-15 |
Judgment | View Judgment |
Keyword Tags | benefit of exemption • taxability of income • accrue or arise in india |
Bot Summary: | The Revenue has raised the following grounds of appeal:- 1. Whether the amount of Rs. 72,32,059/- received by the assessee in India is to be allowed as exemption or to be taxed in India. Any other grounds or ground that may be urged at the time of appeal. At the time of hearing it has been brought to our notice that as per the CBDT Circulars No.03/2018 dated 11.07.2018 and Circular No.17 of 2019 dated 9th August, 2019, the tax limit for filing appeal by the Revenue before the Tribunal has been fixed at Rs.50.00 lakhs and above. Since the tax effect in the present appeal before us is less than Rs.50.00 lakh, we hereby dismiss the same with liberty to the Revenue to seek recall of the order, if the appeal falls within the exceptions mentioned in the Circulars of the CBDT. 4. In the result, the appeal filed by the Revenue is dismissed. Pronounced in the open Court on the 01 st October, 2019. |