ITAT Dismisses Revenue Appeal Under ₹60 Lakh Tax Effect, Citing CBDT Circular

ITO Vs Rashi Impex Pvt. Ltd (ITAT Kolkata) The Income Tax Appellate Tribunal (ITAT), Kolkata Bench, delivered an order on February 11, 2025, dismissing an appeal filed by the Revenue, the Income Tax Officer (ITO), against the assessee, Rashi Impex Pvt. Ltd., for the Assessment Year (AY) 2010-11. The Revenue was challenging an order issued by the Commissioner of Income Tax (Appeals). Application of CBDT Circular The core issue decided by the Tribunal was the maintainability of the Revenue’s appeal in light of the Central Board of Direct Taxes (CBDT) Circular No. 9/2024, dated September 1...