M/s. Arihant Electricals, New Delhi V. ACIT, New Delhi

CO 245/DEL/2012

• Counselvise Citation: [2016] 123 COUNSELVISE.COM (IT) 2096 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 7 month(s) 14 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 23-02-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 15-12-2015
• Assessment Year: 2005-2006
• Appeal Filed On: 09-07-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: ABHISHEK ANAND
• Assessee Lawyers: RAVI JAIN
• Keywords: Tax effect
• Section: 2

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH A , NEW DELHI BEFORE SHRI J. SUDHAKAR REDDY, ACCOUNTANT MEMBER AND SH. A.T.VARKEY , JUDICIAL MEMBER ITA NO S . 2 53 8/ DEL/201 2 AY: 200 4 - 05 ACIT, CIRCLE 3 0 (1) VS. ARIHANT ELECTRICALS NEW DELHI 4866/24, ANSARI ROAD DARYAGANJ, NEW DELHI 110 002 PAN: AAA FA 2753 N CROSS OBJECTION NO.244/DEL/2012 (IN ITA 2538/DEL/12) A.Y. 2004 - 05 ARIHANT ELECTRICALS VS. ACIT, CIRCLE 30(1) NEW DELHI NEW DELHI ITA NO S . 2539/ DEL/201 2 AY: 200 5 - 06 ACIT, CIRCLE 30(1) VS. ARIHANT ELECTRICALS NEW DELHI NEW DELHI CROSS OBJECTION NO.24 5 /DEL/2012 (IN ITA 253 9 /DEL/12) A.Y. 200 5 - 06 ARIHANT ELECTRICALS VS. ACIT, CIRCLE 30(1) NEW DELHI NEW DELHI (APPELLANT) (RESPONDENT) APPELLANT BY : SH. RAVI JAIN, CIT, D.R. RESPONDENT BY : SH. ABHISHEK ANAND, ADV. ORDER PER J. SUDHAKAR REDDY, ACCOUNTANT MEMBER THESE APPEAL S ARE FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF THE LD.COMMISSIONER OF INCOME TAX (APPEALS) - X I X, NEW DELHI DATED 12 .03.2012 PERTAINING TO THE ASSESSMENT YEAR (A.Y.) 2004 - 05 AND 2005 - 06. ITA NOS. 2538 & 2539 /DEL/2012 A.Y. 2004 - 05 AND 20 05 - 06 CROSS OBJECTIONS NOS. 244 AND 245/DEL/12 (IN ITA 2538 & 2539/DEL/12) ARIHANT ELECTRICALS, N.DEL 2 THE ASSESSEE HAS FILED CROSS OBJECTIONS FOR BOTH THE A.YS 2004 - 05 AND 2005 - 06. 1.1. THE TAX EFFECT IN BOTH THESE APPEAL S BY THE REVENUE DO NOT EXCEED THE MONETARY LIMIT OF RS.10 LAKHS SPECIFIED IN RECENT CBDT CIRCULAR NO.21/2015 DATE D 10 TH DECEMBER,2015, F. NO. 279/MISC./142/2007 - ITJ(PT.) READ WITH S.268 A OF THE INCOME TAX ACT 1961. FURTHER IN THIS CBDT CIRCULAR, AT PARA 10 IT IS SPECIFIED THAT THE INSTRUCTION WILL APPLY RETROSPECTIVELY, TO ALL PENDING APPEALS. 2. WE HAVE HEARD SH. RAVI JAIN, LD.CIT, D.R. ON BEHALF OF REVENUE AND SHRI ABHISHEK ANAND, LD.COUNSEL FOR THE ASSESSEE. 2.1 . THE LD. CIT, D.R. COULD NOT CONTROVERT THE FACT THAT THE TAX EFFECT ON THE QUANTUM OF INCOME IN DISPUTE IS BELOW THE MONETARY LIMIT OF RS.10,00,000/ - (TEN LAKHS ONLY). 2. 2 . HENCE WE DISMISS TH ESE APPEAL S FILED BY THE REVENUE ON THE GROUND THAT THE TAX EFFECT IN THE PRESENT APPEAL S DO NOT EXCEED THE MONETARY LIMIT SPECIFIED BY THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER,2015, F. NO. 279/MISC./142 /2007 - ITJ(PT.) READ WITH S.268 A OF THE INCOME TAX ACT 1961, AND HENCE NOT MAINTAINABLE. 2. 3 . IN CASE THERE IS A MISTAKE IN THE CALCULATION OR IF THE CASE S ARE COVERED BY ANY OF THE EXCEPTION SPECIFIED IN THE CIRCULAR , THE REVENUE MAY FILE A MISC. APPL ICATION U/S 254(2) OF THE INCOME TAX ACT 1961 POINTING OUT THE MISTAKE AND IF THE BENCH IS CONVINCED OF THE MISTAKE, THIS ORDER WILL BE RECALLED AND THE APPEAL S RESTORED FOR FRESH DISPOSAL ON MERITS. ITA NOS. 2538 & 2539 /DEL/2012 A.Y. 2004 - 05 AND 20 05 - 06 CROSS OBJECTIONS NOS. 244 AND 245/DEL/12 (IN ITA 2538 & 2539/DEL/12) ARIHANT ELECTRICALS, N.DEL 3 3. SINCE WE HAVE DISMISSED THE REVENUE S APPEALS, THE C.OS. FILED BY THE ASSESSEE HAVE BECOME INFRUCTUOUS AND ARE DISMISSED AS SUCH. 4. IN THE RESULT THE REVENUE S APPEAL S FOR THE A.Y. 2004 - 05 AND 2005 - 06, AS WELL AS THE ASSESSEE S CROSS OBJECTIONS BOTH ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 23 RD FEBRUARY, 2016 . SD/ - SD/ - ( A.T. VARKEY ) (J. SUDHAKAR REDDY) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: THE 23 RD FEBRUARY, 2016 MANGA COPY FORWARDED TO: - 1 . APPELLANT 2 . RESPONDENT 3 . CIT 4 . CIT(A) 5 . DR, ITAT - TRUE COPY - BY ORDER, ASSISTANT REGISTRAR