Income Tax Appellate Tribunal - Delhi
Acit, New Delhi vs M/S Mani Stock Brokers Ltd(Now Mani ... on 12 September, 2019
IN THE INCOME TAX APPELLATE TRIBUNAL
DELHI BENCH : D : NEW DELHI
BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER
AND
SHRI KULDIP SINGH, JUDICIAL MEMBER
ITA No.101/Del/2016
Assessment Year: 2010-11
ACIT, Vs Mani Stock Brokers Ltd.
Central Circle-17, (Now Mani Infraconsultancy LLP),
New Delhi. 14, Ratan Mahal,
15/197, Civil Lines,
Kanpur.
PAN: AAACD4968M
(Appellant) (Respondent)
Assessee by : Shri Sandeep Chaddha, AR
Revenue by : Shri J.K. Mishra, CIT, DR
Date of Hearing : 11.09.2019
Date of Pronouncement : 12.09.2019
ORDER
PER R.K. PANDA, AM:
This appeal filed by the Revenue is directed against the order dated 31.10.2015 of the CIT(A)-25, Delhi, relating to assessment year 2010-11.
2. The ld. counsel for the assessee, at the outset, submitted that the tax effect involved in the grounds raised by the Revenue is below Rs.50 lakhs. Therefore, in view of the recent CBDT Circular No.17/2019 dated 8th August, 2019, raising the monetary limit for filing of the appeal by the Revenue before the Tribunal to Rs.50 lakhs and the subsequent clarification of the CBDT, vide Notification dated 20th August, 2019 stating that the said Circular is applicable even to pending appeals, the appeal filed by the Revenue is not maintainable. ITA No.101/Del/2016
3. The ld. DR, on the other hand, fairly conceded that the tax effect involved in the grounds raised by the Revenue being below Rs.50 lakhs, the appeal filed by the Revenue squarely falls within the ambit of the recent CBDT Circular No.17/2019 dated 8th August, 2019 and the subsequent clarification dated 20th August, 2019.
4. After hearing both the sides, we find the tax effect involved in the grounds raised by the Revenue is admittedly below Rs.50 lakhs. Therefore, in view of the CBDT Circular No.17/2019 dated 8th August, 2019 raising the monetary limits for filing of the appeals by the Revenue before the Tribunal to Rs.50 lakhs and the subsequent clarification dated 20th August, 2019 to the effect that the said Circular is applicable even to pending appeals, the appeal filed by the Revenue is not maintainable. Accordingly, the same is dismissed.
5. In the result, the appeal filed by the Revenue is dismissed.
The decision was pronounced in the open court on 12.09.2019.
Sd/- Sd/-
(KULDIP SINGH) (R.K. PANDA)
JUDICIAL MEMBER ACCOUNTANT MEMFBER
Dated: 12th September, 2019
dk
Copy forwarded to
1. Appellant
2. Respondent
3. CIT
4. CIT(A)
5. DR
Asstt. Registrar, ITAT, New Delhi
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