As tax limit for nt filing appeal before ITAT is Rs. 4 lakhs, appeal dismissed.
As tax limit for nt filing appeal before ITAT is Rs. 4 lakhs, appeal dismissed.
During appeal filed by revenue, assessee raised object'n, since tax effect in appeal was less than Rs. 4 lakhs. Thus, in view of proviso. of Sec. 268A (of Income Tax Act, 1961) & Instruct'n No. 5/14, appeal filed was not maintainable. ITAT held, well-settled in various cases that Instruction No. 5/14 issued by CBDT is applicable for pending cases also & in Instruct'n, monetary tax limit for nt filing appeal before ITAT is Rs. 4 lakhs. Thus, revenues appeal was dismissed.-000408
Facts in Brief:
1. In course of appeal filed by the revenue the assessee raised an objection that since tax effect in appeal was less than Rs. 4 lakhs, in view of provisions of section 268A (of Income Tax Act, 1961) and Instruction No. 5/14, dated 10-7-2014, appeal so filed was not maintainable.
HC held as under,
2. It is well-settled in various cases that Instruction No. 5/14, dated 10-7-2014 issued by the CBDT is applicable for the pending cases also and in the said Instruction, monetary tax limit for not filing the appeal before the Tribunal is Rs. 4 lakhs.
3. In view of the above, the appeal filed by the revenue is dismissed.
RELEVANT PARAS OF THE JUDGMENT ARE AS UNDER:
4. It is not in dispute that the Board's instruction or directions issued to the income-tax authorities are binding on those authorities, Therefore, the department ought not to have filed the appeal in view of the abovesaid provisions mentioned in section 268A (of Income Tax Act, 1961) since the tax effect in the instant case is less than the amount prescribed for not filing the appeal.
5. It is noticed that the CBDT has issued Instruction No. 5/14, dated 10-7-2014, by which the CBDT has revised the monetary limit to Rs. 4,00,000 for filing the appeal before the Tribunal.
Case Reference-Deputy Commissioner of Income-tax, Central Circle-2, New Delhi v. Amit Paccraft
IN THE ITAT DELHI BENCH 'A'
×
