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Judgment
The appeal in ITA No.7580/Del/2026 for AY 2021, arises out of the order of the Id. National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as 'Id. NFAC, in short] dated 29.04.2026 against the order of assessment passed u/s 143(3) r.w.s. 144B of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') dated 27.12.2022 by the Assessing Officer, Assessment Unit (hereinafter referred to as 'Id. AO').
The Id. Departmental Representative (DR) pointed out that the present appeal is to be withdrawn as the tax effect involved in the case is below Rs.60 Lacs.
The CBDT vide Circular No.09/2024 dated 17.09.2024 has revised the monetary limit for filing the appeals before the Tribunal to Rs.60 Lacs and the said Circular would be applicable to all pending appeals. In such circumstances, the present appeal filed by the Revenue in case of low tax effect is not maintainable.
In the instant case, the receipts earned by the assessee were sought to be treated as accommodation entries, but no addition has been made on account of accommodation entries and instead only profit estimation has been made by the ld AO. Hence, in effect, the issue raised by the revenue before me is as to whether relief granted by the ld CIT(A) on account of profit estimation alone is correct or not. Hence, the present appeal of the revenue in my considered opinion would not fall under the exceptions to the CBDT Circular.
In conclusion, by applying the CBDT Circular dated 17.09.2024, the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.
In the final result, the appeal of the Revenue stands dismissed.
Order pronounced in the open court on 29th -Sep-2026.