Intelligent Money Managers Pvt. Ltd., , Kolkata V. ITO, Ward - 6(2), Kolkata , Kolkata

CO 13/KOL/2019

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 4900 (ITAT-KOLKATA)
• Duration Of Justice: 11 month(s) 7 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 19-02-2020
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2014-2015
• Appeal Filed On: 12-03-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: RANU BISWAS
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH KOLKATA BEFORE SHRI S. S. GODARA, JM & DR. A.L. SAINI, AM C.O NO.13/KOL/2019 (A/O ITA NO.2545/KOL/2017) (ASSESSMENT YEAR: 2014-15) INTELLIGENT MONEY MANAGERS P. LTD. 2 ND FLOOR, YMCA BUILDING, 25, JAWAHARLAL NEHRU ROAD, KOLKATA- 700087. VS. CIT-2, KOLKATA ( /APPELLANT ) .. ( / RESPONDENT ) APPELLANT BY : NONE RESPONDENT BY : SMT. RANU BISWAS, ADDL. CIT / DATE OF HEARING : 19/12/2019 /DATE OF PRONOUNCEMENT : 19/02/2020 / O R D E R PER DR. A. L. SAINI, AM: THE CAPTIONED CROSS-OBJECTION FILED BY THE ASSESSEE PERTAINING TO ASSESSMENT YEAR 2014-15, IS ARISING OUT OF ITA NO.2545/KOL/2017. THE REVENUES APPEAL IN ITA NO. 2545/KOL/2017 WAS HEARD AND ORDER WAS PASSED BY THIS TRIBUNAL ON ACCOUNT OF LOW TAX EFFECT, VIDE ORDER DATED 28.08.2019. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE THOUGH AN APPLICATION FOR WITHDRAWAL OF CROSS-OBJECTION WAS FILED BY THE ASSESSEE DATED 17.09.2019. 3. AT THE OUTSET, WE FIND THAT AN APPLICATION IS FILED BY THE ASSESSEE DATED 17.09.19 FOR WITHDRAWAL OF THE CROSS-OBJECTIONS. WE NOTE THAT APPEAL OF THE REVENUE IN ITA NO.2545/KOL/2017 WAS DISMISSED BY THIS TRIBUNAL ON ACCOUNT OF LOW TAX EFFECT THAT IS BELOW THRESHOLD LIMIT OF RS.50,00,000/- IN PURSUANCE OF CBDT CIRCULAR NO.17/2019. THE LD. DR DID NOT HAVE ANY OBJECTION IF THE CROSS- INTELLIGENT MONEY MANAGERS P. LTD. C.O NO.13/KOL/2019 2 OBJECTION IS WITHDRAWN. IN VIEW OF THIS, WE DISMISS THE CROSS-OBJECTION FILED BY ASSESSEE AS WITHDRAWN. 4. IN THE RESULT, THE CROSS-OBJECTION FILED BY THE ASSESSEE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 19/02/2020. SD/- (S. S. GODARA) SD/- (A. L. SAINI) / JUDICIAL MEMBER / ACCOUNTANT MEMBER /KOLKATA; DATED: 19/02/2020 RS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT- INTELLIGENT MONEY MANAGERS P. LTD. 2. / THE RESPONDENT.- CIT-2, KOLKATA 3. ( ) / THE CIT(A), 4. / CIT 5. , , / DR, ITAT, KOLKATA 6. [ / GUARD FILE. //TRUE COPY// BY ORDER ASSISTANT REGISTRAR, I.T.A.T, KOLKATA BENCHES, KOLKATA .