YPT Entertainment House P. Ltd., Patiala V. DCIT, Central Circle, Noida

CO 162/DEL/2019

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 6341 (ITAT-DELHI)
• Duration Of Justice: 1 year(s) 8 month(s) 11 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 08-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: F
• Assessment Year: 2012-2013
• Appeal Filed On: 27-12-2019
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: DILIP KOTHARI
• Assessee Lawyers: VED JAIN CA SH ASHISH GOEL
• Keywords: Retrospective amendment; Tax effect
• Section: 201; 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH F : NEW DELHI) (THROUGH VIDEO CONFERENCING) BEFORE SHRI KULDIP SINGH, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER ITA NO. 4947/DEL./2018, A.Y. : 2012-13 ITA NO. 4948/DEL./2018, A.Y. : 2013-14 DCIT, VS. YPT ENTERTAINMENT HOUSE P. LTD. CENTRAL CIRCLE 1639/3B, GHEE WALI GALI, NOIDA PATIALA (PAN : AAACY2718C) (APPELLANT) (RESPONDENT) CO NO. 162/DEL/2019 (ARISING OUT OF ITA NO. 4947/DEL./2018, A.Y. : 201 2-13) CO NO. 163/DEL/2019 (ARISING OUT OF ITA NO. 4948/DEL./2018, A.Y. : 201 3-14) YPT ENTERTAINMENT HOUSE P. LTD. VS. DCIT, 1639/3B, GHEE WALI GALI, CENTRAL CIRCLE PATIALA NOIDA (PAN : AAACY2718C) ASSESSEE BY : SHRI VED JAIN, CA, SH. ASHISH GOE L, CA REVENUE BY : SH. DILIP KOTHARI, CIT- DR DATE OF HEARING : 08.09.2021 DATE OF ORDER : 08 .09.2021 ITA NO. 4947, 4948/DEL/2018 CO NO. 162 & 163/DEL/2019 2 O R D E R PER BENCH : THESE TWO APPEALS BY REVENUE AND CROSS OBJECTION BY ASSESSEE ARE FILED AGAINST THE IMPUGNED ORDER OF LD . COMMISSIONER OF INCOME TAX (APPEALS)-IV, KANPUR, [ LD. CIT(A), FOR SHORT], DATED 25.04.2018 FOR ASSESSME NT YEAR 2012- 13 & 2013-14 RESPECTIVELY. 2. PERUSAL OF THE AFORESAID APPEALS FILED BY THE R EVENUE AND CROSS OBJECTION FILED BY THE ASSESSEE APPARENTLY SH OW THAT THE SAME IS HAVING LOW TAX EFFECT AS PER CBDT CIRCULAR NO.17/2019 DATED 8 TH AUGUST, 2019 VIDE WHICH THE REVENUE HAS BEEN DIREC TED NOT TO PREFER ANY APPEAL IN CASE THE TAX EFFECT IS LESS THAN RS.50,00,000/- AND THIS FACTUAL POSITION HAS BEEN F AIRLY CONCEDED BY THE LD. D.R. THE LD. A.R. CONTENDED THAT THE AP PEALS OF THE REVENUE MAY BE DISMISSED IN THE LIGHT OF CBDT CIRCU LAR (SUPRA). 3. WE HAVE HEARD THE PARTIES ON THE ISSUE IN CONTR OVERSY AND PERUSED THE MATERIAL ON RECORD. PERUSAL OF CBDT CIR CULAR (SUPRA) SHOWS THAT MONETARY LIMIT FOR FILING THE APPEALS B Y THE DEPARTMENT ITA NO. 4947, 4948/DEL/2018 CO NO. 162 & 163/DEL/2019 3 BEFORE THE TRIBUNAL, HON'BLE HIGH COURT AND HON'BLE SUPREME COURT HAS BEEN REVISED. 4. IN VIEW OF THE CBDT CIRCULAR NO.17/2019 DATED 8 TH AUGUST, 2019 HAVING RETROSPECTIVE EFFECT AS COORDINATE BENC H OF THE TRIBUNAL IN CASE OF DINESH MADHAVLAL PATEL [TS-469-ITAT- 2019(AHD)] 2019-TIOL-1556-ITAT-AHM DATED 14 TH AUGUST, 2019 HAS ALREADY DECIDED THE ISSUE AS TO THE APPLICABILI TY OF THE CAPTIONED CIRCULAR TO THE PENDING APPEALS IN AFFIRM ATIVE AND WHAT HAS BEEN DISCUSSED ABOVE, WE ARE OF THE CONSIDERED VIEW THAT THE AFORESAID APPEALS IS NOT MAINTAINABLE BECAUSE OF LOW TAX EFFECT I.E. LESS THAN RS.50,00,000/- HENCE, THE AFORESAID APPEALS FILED BY THE REVENUE IS HEREBY DISMISSED HAVING BEEN BECOME INFRUCTUOUS. HOWEVER, IN CASE, THE PRESENT APPEAL IS FOUND T O BE MAINTAINABLE AT ANY STAGE FOR ANY TECHNICAL REASONS, THE DEPARTM ENT SHALL BE AT LIBERTY TO SEEK RECALL OF THIS ORDER UNDER RELEVANT PROVISIONS OF LAW. 5. BOTH SIDES WERE IN AGREEMENT, AT THE TIME OF HEA RING BEFORE US; THAT THE ASSESSEES CROSS OBJECTION DESERVED TO BE DISMISSED (BEING INFRUCTUOUS), IF REVENUES APPEAL WAS DISMIS SED. IN VIEW OF THE FOREGOING, AND AS WE HAVE ALREADY DISMISSED REV ENUES APPEAL; WE HEREBY DISMISS ASSESSEES CROSS OBJECTION, BEING INFRUCTUOUS. ITA NO. 4947, 4948/DEL/2018 CO NO. 162 & 163/DEL/2019 4 6. IN THE RESULT, THE APPEALS BY REVENUE AND THE CR OSS OBJECTION FILED BY THE ASSESSEE; BOTH ARE DISMISSED . ORDER PRONOUNCED IN OPEN COURT ON 8 TH DAY OF SEPTEMBER, 2021 AFTER CONCLUSION OF VIRTUAL HEARING. SD/- SD/- (PRASHANT MAHARISHI) (KULDIP SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED THE 8 TH DAY OF SEPTEMBER, 2021 *BINITA* COPY FORWARDED TO: 1.APPELLANT 2.RESPONDENT 3.CIT 4.CIT(A)-5, NEW DELHI. 5.CIT(ITAT), NEW DELHI. AR, ITAT NEW DELHI.