Portescap India Pvt. Ltd. Vs. ACIT-2(3)(1)

Parties Involved

Facts Summary

The appeal was filed by the Revenue against an order passed by the Commissioner of Income-tax (Appeals) for the assessment year 2019-2020. The Revenue sought to withdraw the appeal as the tax effect involved was below the threshold limit of Rs. 60,00,000/- as per the recent enhancement by the Central Board of Direct Taxes (CBDT) vide Circular No. 09/2024 dated 17.09.2024. The Tribunal found that the monetary limit for filing the appeal by the Revenue before the Income Tax Appellate Tribunal has been enhanced to Rs. 60,00,000/- vide Circular No. 09/2024 dated 17.09.2024, and the said circular applies to the appeals pending before the Tribunal also.…

Legal Issues

• 1. Whether the CIT(A) was justified in deleting the Disallowance of deduction claimed by the assessee.

Judgment Outcome

Decided in favour of Revenue.

Precedents Relied Upon

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