DCIT, Circle - 4(3)(1), Bangalore. Vs. M/s. Kirloskar Electric Company Ltd.

Parties Involved

Facts Summary

This appeal at the instance of the Revenue and the Cross Objection (CO) preferred by the assessee are directed against CIT(A)'s Order dated 19.07.2023 passed under section 250 of the Act. The relevant Assessment Year is 2011-12. The learned AR submitted that the appeal by the Revenue is below the monetary limit prescribed by the Board Circular No.9/2024 dated 17.09.2024 for filing the appeal before the Tribunal. The assessee had worked out a tax effect with regard to the appeal filed by the Department which is less than Rs.60,00,000/- prescribed by the Board Circular No.9/2024. The learned DR, on the other hand, has filed a report from the AO. The AO in report admits that tax effect in this case is below Rs.60,00,000/- and does not come under the exception clause prescribed in Circular No.5/2024 dated 15.03.2024 whereby appeal can be preferred irrespective of the tax effect being below the monetary limit prescribed.…

Legal Issues

• 1. Whether the appeal by the Revenue is valid under the monetary limit prescribed by the Board Circular No.9/2024 dated 17.09.2024?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

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