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Income Tax Appellate Tribunal - Delhi

Acit, New Delhi vs M/S. Gulshan Polyols Ltd., Delhi on 11 October, 2017

                In the Income-Tax Appellate Tribunal,
                      Delhi Bench 'C', New Delhi

           Before : Shri H.S. Sidhu, Judicial Member and
                    Shri L.P. Sahu, Accountant Member

                         ITA No. 230/Del./2015
                        Assessment Year: 2011-12

     DCIT, Circle 10(2),       vs. Gulshan Polyols Ltd., G-81,
     New Delhi.                    Preet Vihar, Delhi
                                   PAN - AABCG3954F
                                   (Respondent)
     (Appellant)

          Appellant by       Sh. Arun Kumar Yadav, Sr. DR
          Respondent by      Mohd. Shahid, FCA

                Date of Hearing                   11.10.2017
                Date of Pronouncement             11.10.2017


                                    ORDER
Per L.P. Sahu, A.M. :

This appeal by the Revenue arises out of the order passed by the CIT(A)- XV, New Delhi dated 28.10.2014 in relation to the captioned assessment year.

2. During the course of hearing, the ld. DR, although supported the order of the Assessing Officer, but fairly agreed that the tax effect involved in this appeal is less than Rs.10,00,000/- and by virtue of Circular of CBDT No. 21 of 2015 dated 10.12.2015, the monetary limit has been revised to Rs.10,00,000/- for not filing appeals by the department before the Tribunal. The ld. AR, on the other hand, submitted that the present appeal is not maintainable by virtue of above circular of CBDT.

3. After going through the material on record, we find that the above circular of CBDT on pecuniary limit has now statutory force within the provisions of section 268A of the IT Act. These instructions are operative retrospectively to the pending appeals also. It goes without saying that the Board's instructions or directions issued to the income-tax authorities are binding upon them. Going by the prescription of the afore-noted Circular, and without going into merits of the case, we dismiss the instant appeal filed by the Revenue as tax effect involved in this appeal is less than Rs.10.00 lacs.

4. In the result, the appeal of the Revenue stands dismissed. Order pronounced in the open court on 11.10.2017.

                Sd/-                                     Sd/-
         (H.S. Sidhu)                             (L.P. Sahu)
         Judicial Member                     Accountant Member

Dated:      11/10/2017
*aks*
Copy of order forwarded to:
(1)     The appellant                  (2)   The respondent
(3)     Commissioner                   (4)   CIT(A)
(5)     Departmental Representative    (6)   Guard File
                                                                                      By order

                                                                         Assistant Registrar
                                                              Income Tax Appellate Tribunal
                                                                   Delhi Benches, New Delhi