Income Tax effect Less than Rs. 60 lacs: ITAT Dismisses Revenue’s Appeal

DCIT Vs Parasram Holdings Pvt. Ltd. (ITAT Delhi) Income Tax Appellate Tribunal (ITAT) Delhi dismissed the appeal filed by the Revenue in the case of DCIT Vs Parasram Holdings Pvt. Ltd. The appeal challenged the order of the Commissioner of Income Tax (Appeals) [CIT(A)] dated August 3, 2023, which had ruled in favor of the assessee for Assessment Year (AY) 2020-21. The Revenue’s contention was rendered inadmissible due to the monetary threshold prescribed under CBDT Circular No. 09/2024, dated September 17, 2024, which restricts appeals where the tax effect is below Rs.60 lakh. The tribunal o...