Bhagat Industrial Corporation Ltd., Amritsar. V. The Income Tax Officer, Amritsar.

CO 21/ASR/2016

• Counselvise Citation: [2018] 119 COUNSELVISE.COM (IT) 4949 (ITAT-AMRITSAR)
• Duration Of Justice: 2 year(s) 1 month(s) 3 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 23-10-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 24-01-2019
• Assessment Year: 2007-2008
• Appeal Filed On: 19-09-2016
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect
• Section: 143(3); 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBU NAL AMRITSAR BENCH, AMR ITSAR, (SMC) BEFORE SH. SANJAY ARORA, ACCOUNTANT M EMBER I.T.A. NO.627(ASR)/2016 A SSESSMENT YEAR: 2013-14 INCOME TAX OFFICER, WARD-5(4), AMRITSAR VS. WAZIR SINGH YARN PVT. LTD. VPO BHALLA PIND, OPP. SUGAR FACTORY AIRPORT AJNALA ROAD, AMRITSAR. [PAN:AAACW 8045J] (APPELLANT) (RESPONDENT) CROSS OBJECTION NO.21(ASR)/2017 (ARISING OUT OF ITA NO.627(ASR)/2016) ASSESSMENT YEAR: 2013-14 WAZIR SINGH YARN PVT. LTD. VPO BHALLA PIND, OPP. SUGAR FACTORY AIRPORT AJNALA ROAD, AMRITSAR. [PAN:AAACW 8045J] VS. INCOME TAX OFFICER, WARD-5(4), AMRITSAR (APPELLANT) (RESPONDENT) APPELLANT BY : SH. CHARAN DASS (D.R.) RESPONDENT BY: SH. NAVENDU KHANNA (C.A.) DATE OF HEARING: 23.10.2018 DATE OF PRONOUNCEMENT: 23.10.201 8 ORDER PER SANJAY ARORA, AM: THIS IS AN APPEAL BY THE REVENUE DIRECTED AGAINST T HE ORDER BY THE COMMISSIONER OF INCOME TAX (APPEALS)-2, AMRITSAR ( CIT(A)' FOR SHORT) DATED 30.09.2016, PARTLY ALLOWING THE ASSESSEES APPEAL C ONTESTING ITS ASSESSMENT UNDER ITA NO.627/ASR/2016 (AY 2013-14) & C.O. NO.21(ASR)/2017 ITO V. M /S. WAZIR SINGH YARN PVT. LTD. 2 SECTION 143(3) OF THE INCOME TAX ACT, 1961 ('THE AC T' HEREINAFTER) DATED 02.03.2016 FOR THE ASSESSMENT YEAR (AY) 2013-14. THE ASSESSEE HAS ALSO FILED THE CROSS OBJECTION (CO) IN RESPECT OF ITS ASSESSMENT. 2. THE ASSESSEE HAS THROUGH ITS COUNSEL MOVED AN APPLICATION, STATING THAT THE TAX EFFECT OF THE INSTANT APPEAL BY THE REVENUE IS RS. 13.88 LACS, I.E., BELOW RS. 20 LACS, THE THRESHOLD MONETARY LIMIT APPLICABLE FOR THE REV ENUES APPEALS BEFORE THE TRIBUNAL U/S. 268A OF THE ACT AS PER THE LATEST INSTRUCTION, I.E., NO. 3 OF 2018, DATED 11.07.2018, BY THE CBDT, SO THAT IT IS NOT MAINTAINABLE. A REQU EST FOR PERMISSION TO WITHDRAW ITS CO IS ALSO MADE. THE LD. DEPARTMENTAL REPRESENTATIV E (DR), UPON BEING ASKED BY THE BENCH, DID NOT RAISE ANY OBJECTION TO THE COMPUTATI ON OF THE TAX-EFFECT, WHICH IS IN FACT SUBSTANTIATED PER THE DEMAND NOTICE ISSUED PURSUANT TO ASSESSMENT, ENCLOSING IT ALONG WITH THE ASSESSEES APPLICATION, NOR ANY TO THE WIT HDRAWAL OF ITS CO BY THE ASSESSEE. WITH REFERENCE TO THE GROUNDS OF APPEAL ASSUMED BEF ORE THE TRIBUNAL AS WELL AS THE ASSESSMENT ORDER, ASSESSING THE TOTAL INCOME AT RS. 45.29 LACS, IT WAS FURTHER CONFIRMED BY THE BENCH THAT THE TAX-EFFECT IS BELOW RUPEES TWENTY LAKHS. 3. SECTION 268A OF THE ACT PROVIDES THAT AN APPELL ATE AUTHORITY, INCLUDING THE APPELLATE TRIBUNAL, SHALL HAVE REGARD TO THE INSTRU CTIONS, DIRECTIONS, ORDERS, ETC. ISSUED BY THE BOARD FROM TIME TO TIME FIXING MONETARY LIMI TS FOR THE PURPOSE OF REGULATING THE FILING OF APPEALS BY THE REVENUE BEFORE THE DIF FERENT APPELLATE AUTHORITIES, AND WHICH SHALL, WHILE DECIDING THIS APPEAL, HAS REGARD TO THE SAID LIMITS. THE MONETARY LIMIT FIXED PER THE LATEST INSTRUCTION SUPRA FOR TH E APPEALS BEFORE THE TRIBUNAL IS RS. 20 LACS. 4. UNDER THE CIRCUMSTANCES, THEREFORE, THE INSTANT APPEAL, BEING COVERED BY SECTION 268A READ WITH THE APPLICABLE INSTRUCTION CITED SUP RA, WHICH IS TO APPLY FOR PENDING ITA NO.627/ASR/2016 (AY 2013-14) & C.O. NO.21(ASR)/2017 ITO V. M /S. WAZIR SINGH YARN PVT. LTD. 3 APPEALS AS WELL, IS NOT MAINTAINABLE. THE REVENUES APPEAL IS ACCORDINGLY DISMISSED IN LIMINE AS NOT MAINTAINABLE. THE ASSESSEES CO IS ALSO PER MITTED TO BE WITHDRAWN. 5. IN THE RESULT, THE REVENUES APPEAL IS DISMISSED IN LIMINE AND THE CROSS OBJECTION FILED BY THE ASSESSEE IS DISMISSED AS WIT HDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON OCTOBER 23, 2018 SD/- (SANJAY ARORA) ACCOUNTANT MEMBER DATE: 23.10.2018 /PK/ PS. COPY OF THE ORDER FORWARDED TO: (1) WAZIR SINGH YARN PVT. LTD. VPO BHALLA PI ND, OPP. SUGAR FACTORY AIRPORT AJNALA ROAD , AMRITSAR. (2) THE ITO, WARD-5(4), AMRITSAR (3) THE CIT(APPEALS)-2, AMRITSAR (4) THE CIT CONCERNED (5) THE SR. DR, I.T.A.T TRUE COPY BY ORDER