ITA No 77 of 2024 Subramanyam Reddivari

Parties Involved

Facts Summary

The appeal was filed by the assessee against the order dated 4/12/2023 of the learned CIT (A)-NFAC Delhi, relating to Assessment Year 2017-18. The tax effect in this appeal is less than Rs. 60 lakhs. The Central Board of Direct Taxes (CBDT) issued Circular No.279/Misc./M-74/2024-ITJ on 17th September, 2024, which revises the monetary limit for filing appeals by the Revenue before the ITAT and various High Courts as well as the Apex Court with the objective of reducing tax litigation. According to this circular, appeals should not be filed if the tax effect does not exceed Rs. 60 lakhs.…

Legal Issues

• 1. Whether the appeal filed by the Revenue is maintainable given the tax effect is less than Rs. 60 lakhs?

Judgment Outcome

Decided in favour of Revenue.

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