M/s Shrim Investment Solution (P) Ltd., New Delhi V. ACIT, New Delhi

CO 25/DEL/2014

• Counselvise Citation: [2016] 119 COUNSELVISE.COM (IT) 3201 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 4 month(s) 3 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 19-05-2016
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: G
• Next Hearing Date: 19-05-2016
• Assessment Year: 2009-2010
• Appeal Filed On: 16-01-2014
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: SAURABH GOYAL
• Assessee Lawyers: ANIMA BARNWAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: G NEW DELHI BEFORE SHRI L. P. SAHU, ACCOUNTA NT MEMBER AND SMT SUCHITRA KAMBLE , JUDICIAL MEMBER I.T.A .NO.-5262/DEL/2013 (A.Y 2008-09) & I.T.A .NO.-5254/DEL/2013 (A.Y 2009-10) ACIT CENT. CIRCLE-13 NEW DELHI (APPELLANT) VS SHRIM INVESTMENT SOLUTION (P) LTD., 59/17, BAHUBALI APARTMENT, NEW ROHTAK ROAD, KAROL BAGH, NEW DELHI AAACK1028P (RESPONDENT) C.O .NO.-25/DEL/2014 (A.Y 2009-10) IN ITA NO. 5254 /DEL/2013 C.O NO.26 /DEL/2014 (A.Y 2008-09) IN ITA N O. 5262/DEL/2013 SHRIM INVESTMENT SOLUTION (P) LTD., 59/17, BAHUBALI APARTMENT, NEW ROHTAK ROAD, KAROL BAGH, NEW DELHI AAACK1028P (APPELLANT) VS ACIT CENT. CIRCLE-13 NEW DELHI (RESPONDENT) ORDER PER L. P. SAHU, AM APPELLANT BY SMT. ANIMA BARNWAL, SR DR RESPONDENT BY SH. SAURABH GOYAL, C.A DATE OF HEARING 19.05.2016 DATE OF PRONOUNCEMENT 19.05.2016 THESE APPEALS ARE FILED BY THE REVENUE AGAINST THE ORDER DATED 09/07/2013 PASSED BY CIT (A)-1, NEW DELHI. THE ASSE SSEES ARE FILED CROSS OBJECTIONS. 2. THE LD. DR SUBMITTED ADJOURNMENT APPLICATION BUT WHEN POINTED OUT THAT IT IS LOW TAX EFFECT SUBMITTED FUR THER THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS LESS THAN 10,00,000/-. 3. CBDT CIRCULAR NO. F. NO. 279/ MISC.142/207 ITJ(P T) DATED 10 TH DECEMBER, 2015, IN PARA 3, 7 AND 10 READS AS UNDER : 3. HENCEFORTH, APPEALS/SLPS SHALL NOT BE FILED IN C ASES WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY L IMITS GIVEN HEREUNDER: S NO. APPEALS IN INCOME-TAX MATTERS MONETARY LIMIT (IN RS) 1 BEFORE APPELLATE TRIBUNAL 10,00,000/- 2 BEFORE HIGH COURT 20,00,000/- 3 BEFORE SUPREME COURT 25,00,000/- 7. IN THE PAST, A NUMBER OF INSTANCES HAVE COME TO THE NOTICE OF THE BOARD, WHEREBY AN ASSESSEE HAS CLAIMED RELIE F FROM THE TRIBUNAL OR THE COURT ONLY ON THE GROUND THAT THE D EPARTMENT HAS IMPLICITLY ACCEPTED THE DECISION OF THE TRIBUNA L OR COURT IN THE CASE OF THE ASSESSEE FOR ANY OTHER ASSESSMENT Y EAR OR IN THE CASE OF ANY OTHER ASSESSEE FOR THE SAME OR ANY OTHE R ASSESSMENT YEAR, BY NOT FILING AN APPEAL ON THE SAM E DISPUTED ISSUES. THE DEPARTMENTAL REPRESENTATIVE/COUNSELS M UST MAKE EVERY EFFORT TO BRING TO THE NOTICE OF THE TRIBUNAL OR THE COURT THAT THE APPEAL IN SUCH CASES WAS NOT FILED OR NOT ADMITTED ONLY FOR THE REASON OF THE TAX EFFECT BEING LESS THAT TH E SPECIFIED MONETARY LIMIT AND, THEREFORE, NO INFERENCE SHOULD BE DRAWN THAT THE DECISIONS RENDERED THEREIN WERE ACCEPTABLE TO THE DEPARTMENT. ACCORDINGLY, THEY SHOULD IMPRESS UPON THE TRIBUNAL OR THE COURT THAT SUCH CASES DO NOT HAVE A NY PRECEDENT VALUE. A THE EVIDENCE OF NOT FILING APPEAL DUE TO THIS INSTRUCTION MAY HAVE TO BE PRODUCED IN COURTS, THE JUDICIAL FOL DERS IN THE OFFICE OF CSIT MUST BE MAINTAINED IN A SYSTEMIC MAN NER FOR EASY RETRIEVAL. . 10. THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH IN HIGH COURTS/TRIBUNALS. PENDING APPEALS BELOW THE SPECIFI ED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN/ NOT PRESSE D. APPEALS BEFORE THE SUPREME COURT WILL BE GOVERNED BY THE IN STRUCTIONS ON THIS SUBJECT, OPERATIVE AT THE TIME WHEN SUCH AP PEAL WAS FILED. 4. THUS, THIS BEING A PENDING APPEAL IS COVERED BY THE CBDT CIRCULAR NO. F. NO. 279/ MISC.142/207 ITJ(PT) DATED 10 TH DECEMBER, 2015. THE LD. DR SUBMITTED THAT THIS APPEAL IS WITH DRAWN. HE HOWEVER, SUBMITTED THAT THIS SHOULD NOT BE TAKEN AS PRECEDENCE. 5. CONSIDERING THE SUBMISSIONS OF BOTH THE PARTIES, THE REVENUES APPEAL IS DISMISSED AS WITHDRAWN BY THE R EVENUE. HOWEVER, THIS WITHDRAWAL OF REVENUES APPEAL WILL N OT HOLD AS PRECEDENCE IN SUBSEQUENT PROCEEDINGS. IN LIGHT OF T HIS THE CROSS OBJECTION BECOMES INFRUCTUOUS AND STANDS DISMISSED. 6. IN RESULT, THE APPEALS ARE DISMISSED AS WITHDRAW N BY THE REVENUE AND CROSS OBJECTIONS ARE DISMISSED AS THE S AME IS INFRUCTOUS. ORDER PRONOUNCED IN THE OPEN COURT ON 19 TH MAY, 2016. SD/- SD/- ( SUCHITRA KAMBLE) (L. P. SAHU) JUDICIAL MEMBER ACCOUNTA NT MEMBER DATED: 19/05/2016 R. NAHEED * COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI DATE 1. DRAFT DICTATED ON 19/05/2016 PS 2. DRAFT PLACED BEFORE AUTHOR 19/05/2016 PS 3. DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER .2016 JM/AM 4. DRAFT DISCUSSED/APPROVED BY SECOND MEMBER. JM/AM 5. APPROVED DRAFT COMES TO THE SR.PS/PS 19.05.2016 PS/PS 6. KEPT FOR PRONOUNCEMENT ON PS 7. FILE SENT TO THE BENCH CLERK 19.05.2016 PS 8. DATE ON WHICH FILE GOES TO THE AR 9. DATE ON WHICH FILE GOES TO THE HEAD CLERK. 10. DATE OF DISPATCH OF ORDER.