Income Tax Officer – 41(2)(2), Mumbai Vs. Khirish Lalit Dand

Parties Involved

Facts Summary

This case involves an appeal filed by the Revenue against an order passed by the Commissioner of Income Tax (Appeals) at the National Faceless Appeal Centre (NFAC), Delhi, dated 31.01.2024. The appeal was against a penalty order by the Income Tax Officer 29(2)(1), Mumbai, dated 28.03.2016 for Assessment Year 2013-14. The Revenue argued that the total tax effect in the appeal, mentioned in Form 36, was Rs. 51,71,782/- due to an addition made by the Assessing Officer towards loan calculation at a presumptive rate. The Senior Departmental Representative (Sr. DR) clarified that the tax effect was less than Rs.60 lakhs, as per the latest circular issued by the Central Board of Direct Taxes (CBDT) vide Circular No.09/2024, dated 17.09.2024. The Tribunal found that the tax involved in the disputed issue was below Rs.60 lakhs and, therefore, no appeal should be filed by the Revenue before the Tribunal as per the CBDT Circular No. 09/2024. The appeal was dismissed.…

Legal Issues

• 1. Whether the appeal filed by the Revenue is valid under the monetary limit prescribed in CBDT Circular No. 09/2024?

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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