M/s M.P.Chini Industries Pvt Ltd, Kolkata V. DCIT, Cir. -4(1), Kolkata

CO 1/KOL/2022

• Counselvise Citation: [2022] 104 COUNSELVISE.COM (IT) 4839 (ITAT-KOLKATA)
• Duration Of Justice: 2 month(s) 13 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 05-04-2022
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 23-01-2022
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RANU BISWAS
• Keywords: Tax effect

Judgement Text

आयकर अपील य अधीकरण, यायपीठ –“B” कोलकाता, IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA [Before Shri A. T. Varkey, JM & Shri Girish Agrawal, AM] I.T.A. No. 91/Kol/2021 Assessment Year: 2008-09 DCIT, Circle-4(1), Kolkata Vs. M/s M.P. Chini Industries Pvt. Ltd. (PAN: AACCC 4268 M) Appellant Respondent C.O. No. 01/Kol/2022 (Arising out of ITA No. 91/Kol/2021) Assessment Year: 2008-09 DCIT, Central Circle-2(2), Kolkata Vs. M/s Siyaram Developers (PAN: ABXFS 8641 K) Cross-objector Respondent Date of Hearing 06.04.2021 Date of Pronouncement 06.04.2021 For the Appellant Shri B.K. Chaturvedi, A.R For the Respondent Smt. Ranu Biswas, Addl. CITDR ORDER Per Bench: The appeal and the cross-objection preferred by the Revenue and assessee are against the order of Ld. CIT(A)-8, Kolkata dated 20.09.2019 for Assessment year 2008-09. 2. At the outset itself, the Ld. AR for the assessee submitted that revenue’ s appeal is hit by CBDT circular No. 17/2019 dated 08.08.2019 and the tax effect involved in this appeal of revenue is less than Rs. 50 lacs, therefore, the revenue’s appeal before this Tribunal is not maintainable in view of cited CBDT circular No. 17/2019 dated 08.08.2019. Since the tax effect involved in this appeal of the revenue is stated to be less than Rs.50 lacs, we hold that the revenue appeal falls in the ken of CBDT circular (supra) and so we dismiss it as not maintainable. ITA No.91/Kol/2021 CO No. 01/Kol/2022(Arising out of ITA No. 91/Kol/2021) M/s M.P. Chini Industries Pvt. Ltd. A.Y. 2008-09 2 | P a g e 3. However, liberty is given to the revenue to recall this order provided the tax effect is found to be more than 50 Lakhs or the case falls under any of the exception clauses cited in the CBDT Circular (supra). If the revenue prefers application for recall of this order, then the C.O raised by the assessee (legal issue) will also be restored. Since we have dismissed the appeal of revenue, the cross objection filed by the assessee (though there is mistake in Form No. 36A) becomes infructuous since it is supporting the order of Ld. CIT(A) on the legal issue allowed by him and dismissed of revenue appeal makes the ground academic and is accordingly dismissed. 4. In the result, the appeal and cross-objection of the revenue are dismissed. Order is pronounced in the open court. Sd/- Sd/- (Girish Agrawal) (A. T. Varkey) Accountant Member Judicial Member Dated: 06.04.2022 SB, Sr. PS Copy of the order forwarded to: 1. Appellant- DCIT, Circle-4(1), Kolkata 2. Respondent – M/s M.P. Chini Industries Pvt. Ltd, 117/K/13, Gutaiya, Kanpur, Uttarpradesh-208025 3. The CIT(A)- 8, Kolkata (sent through e-mail) 4. CIT- , Kolkata 5. DR, Kolkata Benches, Kolkata (sent through e-mail) True Copy By Order Assistant Registrar ITAT, Kolkata Benches, Kolkata