M/s Om Trilok Realty & Infrastructures vs. DCIT-CC-7(3)

Parties Involved

Facts Summary

The appeal was preferred by the Revenue against the order dated 31.01.2019 passed by the Commissioner of Income-tax (Appeals) for assessment year 2012-2013. The grounds of appeal were regarding the deletion of an addition under section 68 of Rs. 1,50,00,000/- by the Commissioner of Income-tax (Appeals). At the outset, the Departmental Representative submitted that the tax effect involved in the appeal was below the threshold limit of Rs.60,00,000/- as clarified by the Central Board of Direct Taxes (CBDT) vide Circular No. 09/2024 dated 17.09.2024. Therefore, the Revenue sought to withdraw the present appeal. After hearing the submissions of the parties and perusing the relevant material on record, the tribunal found that the tax effect was below the threshold limit of Rs.60,000/- as per the tax Circular dated 17.09.2024. Accordingly, the appeal of the Revenue was dismissed as withdrawn.…

Legal Issues

• 1. Deletion of addition under section 68 of Rs. 1,50,00,000/-

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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