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Judgment
PER M. BALAGANESH, A. M.:
The appeal in ITA No.733/Del/2025 for AY 2018-19, arises out of the order of the ld National Faceless Appeal Centre (NFAC), Delhi [hereinafter referred to as ‘ld. CIT(A)’, in short] dated 10.12.2024 against the order of assessment passed u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 20.04.2021 by the Assessing Officer, NaFAC, Delhi (hereinafter referred to as ‘ld. AO’).
At the time of hearing, Ld. Departmental Representative (DR) pointed out that the present appeal is to be withdrawn as the tax effect involved in the case is below Rs.60 Lacs.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.05/2024 dated 15/03/2024 has revised the monetary limit for filing the appeals before the Tribunal to Rs.60 Lacs. Further, CBDT vide letter dated 17/09/2024 has also clarified that Circular No.05/2024 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.
Before parting, we clarify here that the Revenue shall be at liberty to approach the Tribunal for re-institution of appeal, if the requisite material is brought to show that the appeal is protected by the exceptions prescribed in para-3.1 and 3.2 of the Circular dated 15/03/2024.
In conclusion, by applying the CBDT Circular dated 15.03.2024 and letter dated 17.03.2024 (supra), the captioned appeal of the Revenue is dismissed as withdrawn/not pressed.
In the result, the appeal of the Revenue stands dismissed.