DCIT, Central Circle-3(1), Kolkata vs. Chirag Jewellers

Parties Involved

Facts Summary

The present appeals filed by the Revenue are directed against separate orders dated 16.05.2024 & 17.05.2024 respectively of the Commissioner of Income Tax (Appeals)- 21, Kolkata. The tax effect on the disputed additions before the tribunal is less than Rs. 60 lakh as prescribed in the CBDT’s latest Circular No. 09/2024 dated 17.09.2024. The appeals of the Revenue are dismissed u/s 268A of the Act because of low tax effect than the prescribed limits as per CBDT Circular No. 09/2024.…

Legal Issues

• 1. Whether the appeals filed by the Revenue are maintainable given the tax effect is less than Rs. 60 lakh?

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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