TMZ REALITY PVT. LTD., NEW DELHI V. ACIT, CIRCLE- 25(2), NEW DELHI

CO 224/DEL/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 6642 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 4 month(s) 4 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 12-04-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2012-2013
• Appeal Filed On: 08-12-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBU NAL DELHI BENCH G: NEW DELHI (THROUGH VIDEO CONFERENCING) BEFORE, SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER AND SHRI A.N.MISSHRA, ACCOUNTANT MEMBER ITA NO.5155/DEL/2017 (ASSESSMENT YEAR 2012-13) ASST.CIT, CIRCLE-25(2), NEW DELHI. VS. M/S TMZ REALITY PVT. LTD., 16-A, GROUND FLOOR, OPP. MALAI MANDIR, VASANT VIHAR, NEW DELHI-110 070 PAN AAACU 5149H (APPELLANT) (RESPONDENT) C.O NO.224/DEL/2017 (ASSESSMENT YEAR 2012-13) M/S TMZ REALITY PVT. LTD., 16-A, GROUND FLOOR, OPP. MALAI MANDIR, VASANT VIHAR, NEW DELHI-110 070 PAN AAACU 5149H VS. ASST.CIT, CIRCLE-25(2), NEW DELHI. (CROSS OBJECTOR) (RESPONDENT) APPELLANT BY SH. PRAKASH DEUBY, SR. DR RESPONDENT BY SH. RAKESH KHEWANI, CA DATE OF HEARING 12.04.2021 DATE OF PRONOUNCEMENT 12.04.2021 2 ITA NO.5155/DEL/2017 ACIT VS. TMZ REALITY PVT. LTD. ORDER PER SUDHANSHU SRIVASTAVA, JM: THIS APPEAL IS PREFERRED BY THE DEPARTMENT AGAINST ORDER DATED 30.03.2017 PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-10, NEW DELHI {CIT(A)} FOR ASSESSMENT YEAR 2012-13, WHEREAS THE CROSS OBJECTIONS ARE FILED BY THE ASSESS EE. 2.0 AT THE OUTSET, THE LD. DEPARTMENTAL RE PRESENTATIVE (DR) SUBMITTED THAT THE DEPARTMENTS APPEAL WAS NOT MAIN TAINABLE IN VIEW OF THE CBDT CIRCULAR NO.17/2019 DATED 08.08.201 9 HAS REVISED THE MONETARY LIMIT FOR FILING THE APPEALS B EFORE THE TRIBUNAL TO RS.50 LACS. FURTHER, CBDT VIDE LETTER DATED 20. 08.2019 HAS ALSO CLARIFIED THAT CIRCULAR NO.17/2019 WOULD BE APPLICAB LE TO ALL PENDING APPEALS. IN SUCH CIRCUMSTANCES, THE PRESEN T APPEAL FILED BY THE REVENUE IN CASE OF LOW TAX EFFECT IS NOT MAIN TAINABLE. 4.0 BEFORE PARTING, WE CLARIFY HERE THAT THE REVENUE SHALL BE AT LIBERTY TO APPROACH THE TRIBUNAL FOR RE-INSTITUT ION OF APPEAL, IF THE REQUISITE MATERIAL IS BROUGHT TO SHOW THAT THE APPEA L IS PROTECTED BY 3 ITA NO.5155/DEL/2017 ACIT VS. TMZ REALITY PVT. LTD. THE EXCEPTIONS PRESCRIBED IN PARA-10 OF THE CIRCULA R DATED 11.07.2018. 5.0 IN CONCLUSION, BY APPLYING THE CBDT CIRC ULAR DATED 08.08.2019 AND LETTER DATED 20.08.2019 (SUPRA), THE CAPTIONED APPEAL OF THE REVENUE IS DISMISSED AS WITHDRAWN/NOT P RESSED. 6.0 IN THE RESULT, THE APPEAL OF THE REV ENUE STANDS DISMISSED. 7.0 AS FAR AS THE CROSS OBJECTIONS OF THE ASSESSEE IS CONCERNED, THE LD. AUTHORIZED REPRESENTATIVE (AR) S UBMITTED THAT THE CROSS OBJECTIONS WAS ONLY SUPPORTING THE CIT(A) S ORDER AND IN VIEW OF THE DISMISSAL OF THE DEPARTMENTS APPEAL, TH E ASSESSEE WAS NOT PRESSING THE CROSS OBJECTIONS. 8.0 IN THE RESULT, THE CROSS OBJECTIONS OF THE ASSESSEE IS DISMISSED AS NOT PRESS. 4 ITA NO.5155/DEL/2017 ACIT VS. TMZ REALITY PVT. LTD. 9.0 IN THE FINAL RESULT, THE APPEAL OF THE DEPARTM ENT AS WELL AS THE CROSS OBJECTION OF THE ASSESSEE ARE DISMISSE D. ABOVE DECISION WAS ANNOUNCED ON CONCLUSION OF VIRTUAL HEARING ON 12 TH APRIL, 2021. SD/- SD/- (A.N.MISSHRA) (SUDHANSHU SRIVASTAVA) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 12/04/2021 PK/PS COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI