M/s. Vivek Prints, Amritsar V. Income tax Officer, Amritsar

CO 4/ASR/2010

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 4993 (ITAT-AMRITSAR)
• Duration Of Justice: 11 year(s) 7 month(s) 1 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 20-09-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2005-2006
• Appeal Filed On: 18-02-2010
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: R K MAGO
• Assessee Lawyers: S M SURENDRANATH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNA L AMRITSAR BENCH, AMRITSAR. BEFORE SH. LALIET KUMAR, JUDICIAL MEMBER AND DR. M. L. MEENA, ACCOUNTANT MEMBER I.T.A. NO. 441/ASR/2009 AS SESSMENT YEAR: 2005-06 INCOME TAX OFFICER, WARD - IV(4), AMRITSAR. (APPELLANT) VS. M/S VIVEK PRINTS, BATALA ROAD, AMRITSAR NOW KOTHI NO. 67, GALI-9, BLOCK-C, GURU AMARDASS AVENUE, AJNALA ROAD, AMRITSAR. [PAN: AAAFV 9902G] (RESPENDENT) C.O. NO. 04/ASR/2010 (IN I .T.A. NO. 441/ASR/2009) ASSE SSMENT YEAR: 2005-06 M/S VIVEK PRINTS. BATALA ROAD, AMRITSAR NOW KOTHI NO. 67, GALI-9, BLOCK-C, GURU AMARDASS AVENUE, AJNALA ROAD, AMRITSAR. [PAN: AAAFV9902G] (APPELLANT) VS. ITO, WARD-IV(4), AMRITSAR. (RESPENDENT) APPELLANT BY SH. S. M. SURENDRANATH, DR RESPONDENT BY SH. R. K. MAGO, CA. DATE OF HEARING 16.09.2021 DATE OF PRONOUNCEMENT 20.09.2021 I.T.A. NO. 441/ASR/2009 & C.O. NO.04/ASR/2010 2 ORDER PER BENCH: VIDE CBDT CIRCULAR DATED 8TH AUGUST 2019, THE INCOM E TAX DEPARTMENT HAS ANNOUNCED ITS POLICY DECISION NOT TO FILE, OR PRESS , THE APPEALS, BEFORE THIS TRIBUNAL, AGAINST THE APPELLATE ORDERS FAVOURABLE TO THE ASSE SSEE IN THE CASES IN WHICH OVERALL TAX EFFECT, INCLUDING SURCHARGE BUT EXCLUDING INTEREST, IS RS. 50,00,000 OR LESS. THIS MONETARY LIMIT, WHICH WAS RS. 20,00,000 TILL 7TH AU GUST 2019, HAS BEEN IN EFFECT ENHANCED BY ALMOST 2.5 TIMES OVER THE LAST YEAR, AN D THE RELIEF IS RETROSPECTIVE IN NATURE INASMUCH AS IT NOT ONLY APPLIES TO FUTURE APPEALS B UT ALSO TO THE PENDING APPEALS. 2. AS A STEP TOWARDS MANAGEMENT OF LITIGATION, THE CBDT HAS DECIDED TO FURTHER ENHANCE THE MONETARY LIMITS FOR FILING THE APPEAL S IN INCOME TAX CASES VIDE PARA 3 AND PARA 5 OF THE AFORESAID CIRCULAR TO REMOVE THE AGON Y OF UNCERTAINTY TO THE TAXPAYERS WHO HAVE BEEN SUCCESSFUL BEFORE THE LOWER APPELLATE AUT HORITIES. 3. THE ASSESSEE HAS SUBMITTED TAX CALCULATED CHART WHICH IS AS UNDER: I.T.A. NO. 441/ASR/2009 & C.O. NO.04/ASR/2010 3 I.T.A. NO. 441/ASR/2009 & C.O. NO.04/ASR/2010 4 4. THE LD. DR HAS NO OBJECTION TO DECIDE THE APPEAL IN TAX EFFECT. 5. WE MAKE IT CLEAR THAT THE APPELLANTS SHALL BE AT LIBERTY TO POINT OUT WRONG COMPUTATION OF TAX EFFECT BEING COVERED BY THE PERM ISSIBLE EXCEPTIONS, OR FOR ANY OTHER REASON, AND ACCORDINGLY WE WILL TAKE APPROPRIATE RE MEDIAL STEPS IN THIS REGARD. 6. IN THE LIGHT OF THE ABOVE DISCUSSIONS, AND IN TH E LIGHT OF THE CBDT CIRCULAR DATED 8TH AUGUST 2019, THIS APPEAL, BEING INVOLVING TAX E FFECT OF LESS THAN RS 50 LAKHS, IS DISMISSED AS WELL AS C.O. OF THE ASSESSEE IS ALSO D ISMISSED AS INFRUCTUOUS. 7. WITH THE ABOVE OBSERVATIONS, THE APPEAL FILED BY THE REVENUE AND C.O. OF THE ASSESSEE ARE STAND DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 20.09.2021 SD/- SD /- (DR. M. L. MEENA) (LALIET KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBER DOC COPY OF THE ORDER FORWARDED TO: (1)THE APPELLANT (2) THE RESPONDENT (3) THE CIT (4) THE CIT (APPEALS) (5) THE DR, I.T.A.T. TRUE COPY BY ORDER