ITAT Kolkata Dismisses Revenue Appeal Due to tax effect below threshold for filing

ITO Vs Kamlapati Properties Pvt. Ltd (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT), Kolkata dismissed the Revenue’s appeal in the case of ITO vs. Kamlapati Properties Pvt. Ltd. due to the tax effect being below the prescribed threshold limit set by the Central Board of Direct Taxes (CBDT). The appeal had been filed against an order passed by the National Faceless Appeal Centre (CIT(A)) on 21st March 2024. The counsel for the assessee pointed out that the CBDT had issued Circular No. 9/2024 on 17th September 2024, which revised the monetary limits for filing appeals before the I...