Income Tax Officer, Naidu Sankul Building, Railway Station Road, Bargarh Vs. Tora Service Cooperative Sociey Limited, Tora SCS Ltd., PO: Tora, Bargarh

Parties Involved

Facts Summary

The appeal was filed by the revenue against the order of the CIT(A), NFAC, Delhi dated 16.7.2024 in Appeal No.NFAC/2019-2020 for the assessment year 2020-2021. The tax effect in this appeal was Rs.30,09,065/-, which is below the monetary limit prescribed by Circular No.09/2024 issued by the Central Board of Direct Taxes. The circular stipulates that appeals shall not be filed/pursued by the Department before the Tribunal in cases where the tax effect does not exceed Rs.60,00,000/-. The Sr. DR did not dispute the applicability of the recent CBDT circular and the tax effect being below Rs.60 lakhs in the assessee's case. The Tribunal dismissed the appeal due to the low tax effect.…

Legal Issues

• 1. Whether the appeal should be dismissed due to the tax effect being below the monetary limit?

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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