Sh. Tilak Raj Gupta, Hoshiarpur V. Dy. Commissioner of Income-tax, Jalandhar

CO 7/ASR/2012

• Counselvise Citation: [2012] 122 COUNSELVISE.COM (IT) 7328 (ITAT-AMRITSAR)
• Duration Of Justice: 1 month(s) 19 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 03-07-2012
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2001-2002
• Appeal Filed On: 14-05-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: VINAY MALHOTRA
• Keywords: Tax effect

Judgement Text

ITA NO.629(ASR)/2011 CO NO.07(ASR)/2012 IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR. BEFORE SH. H.S. SIDHU, JUDICIAL MEMBER AND SH. B.P.JAIN, ACCOUNTANT MEMBER I.T.A. NO.629(ASR)/2011 ASSESSMENT YEAR:2001-02 PAN :AAQPG7355Q THE DY. COMMR. OF INCOME TAX VS. SH. TILAK RAJ GU PTA, CENTRAL CIRCLE-II, JALANDHAR. HOSHIARPUR. (APPELLANT) (RESPONDENT) C.O. NO.07(ASR)/2012 (ARISING OUT OF ITA NO.629(ASR)/2011) ASSESSMNT YEAR: 2001-02 SH. TILAK RAJ GUPTA, VS. DY.COMMR. OF INCOME-TAX, HOSHIARPUR. CENTRAL CIRCLE_II, JALANDHAR. (APPELLANT) (RESPONDENT) DEPARTMENT BY:SH. TARSEM LAL, DR ASSESSEE BY:SH. VINAY MALHOTRA, CA DATE OF HEARING:03/07/2012 DATE OF PRONOUNCEMENT:09/07/2012 ORDER PER BENCH ; THE REVENUE HAS FILED THE PRESENT APPEAL AGAINST T HE IMPUGNED ORDER OF CIT(A), JALANDHAR, DATED 28.10.2011 RELATING TO ASSESSMENT YEAR 2001-02 ON THE FOLLOWING GROUNDS: 1. THAT THE ORDER OF THE LD. CIT(A) IS AGAINST THE LAW AND FACTS OF THE CASE. ITA NO.629(ASR)/2011 CO.NO. 07(ASR)/2012 2 2. THAT IN THE ABSENCE OF CONFIRMATION OF GENUINENE SS OF TRANSACTION AND CREDIT WORTHINESS OF THE LENDERS, T HE LD. CIT(A)- 1, LUDHIANA HAS ERRED IN LAW AND FACTS IN DELETING THE ADDITION MADE BY THE AO. 3. THE APPELLANT CRAVES LEAVE TO ADD OR AMEND THE G ROUNDS OF APPEAL ON OR BEFORE IT IS HEARD AND DISPOSED OFF. 4. IT IS PRAYED THAT THE ORDER OF THE CIT(A)-1, LUD HIANA, BE SET ASIDE AND THAT OF THE AO BE RESTORED. 2. THE ASSESSEE HAS FILED C.O. ON THE FOLLOWING GRO UNDS: 1 THAT THE APPEAL FILED BY THE LD. DCIT, CC-II, JA LANDHAR IS AGAINST THE INSTRUCTIONS NO.3/2011 DATED 09.02.2011 REGARDING MONETARY LIMITS ISSUED BY THE CBDT. THE TAX INVOLVE D IN THIS APPEAL IS LESS THAN RS.3 LACS HENCE THIS APPEAL DES ERVES TO BE DISMISSED. 2. THAT THE APPELLANT REQUEST FOR LEAVE TO ADD OR A MEND OR ALTER THE GROUNDS OF APPEAL BEFORE THE APPEAL IS HEARD AND DI SPOSED OF. 3. AT THE TIME OF HEARING, SH. VINAY MALHOTRA, CA, THE LD COUNSEL FOR THE ASSESSEE STATED THAT THE TAX EFFECT INVOLVED IN THE PRESENT APPEAL IS LESS THAN RS. 3 LACS AND AS SUCH THE APPEAL IS NOT MAINTAINAB LE KEEPING IN VIEW THE CBDTS INSTRUCTION NO.3 OF 2011, DATED 9 TH FEBRUARY, 2011, WHJCH IS BINDING ON THE DEPARTMENT AND PLEADED THAT THE PRE SENT APPEAL FILED BY THE DEPARTMENT MAY BE DISMISSED. 4. ON THE OTHER HAND, THE LD. DR RELIED ON THE ORDE R OF THE ASSESSING OFFICER. 5. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE R ELEVANT MATERIALS AVAILABLE ON RECORD, ESPECIALLY CBDTS INSTRUCTION NO.3 OF 2011, DATED 9 TH ITA NO.629(ASR)/2011 CO.NO. 07(ASR)/2012 3 FEBRUARY, 2011. 6.1.AS PER RECORD, IT IS SEEN THAT THE REVENUE HAS FILED THE PRESENT APPEAL IN ITA NOS. 629(ASR)/2011 ON 29.12. 2011 I.E. AFTER THE ISSUANCE OF CBDT INSTRUCTION NO.3 OF 2011, DATED 9 TH FEBRUARY, 2011. THUS, KEEPING IN VIEW THE FACTS AND CIRCUMSTANCES, WE ARE OF THE VIEW THAT THE REVENUE HAS FILED PRESENT THE APPEAL AFTER THE ISS UANCE OF THE SAID CBDT INSTRUCTION NO. 3 OF 2011, WHICH IS EFFECTIVE FROM 9 TH FEBRUARY, 2011. THEREFORE, IN OUR CONSIDERED OPINION, THE SAID INST RUCTION OF CBDT IS BINDING UPON THE DEPARTMENT AND THE PRESENT APPEAL HAS BEEN FILED CONTRARY TO THE SAID INSTRUCTION ISSUED BY THE CBDT. THEREF ORE, THE APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. 6. C.O. NO. 07(ASR)/2012: THE LD. COUNSEL FOR THE ASSESSEE HAS REQUESTED TO W ITHDRAW THE C.O. AND THE SAME IS DISMISSED AS WITHDRAWN. 7. IN THE RESULT, BOTH THE APPEAL OF THE REVENUE AS WELL AS C.O. OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 9TH JULY, 2012. SD/- SD/- (B.P. JAIN) (H.S. SIDHU) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED:9 TH JULY, 2012 /SKR/ COPY OF THE ORDER FORWARDED TO: 1. THE ASSESSEE:SH. TILAK RAJ GUPTA, HOSHIARPUR. 2. THE DCIT, CC-II, JALANDHAR. 3. THE CIT(A), JALANDHAR. 4. THE CIT, JALANDHAR 5. THE SR DR, ITAT, AMRITSAR. ITA NO.629(ASR)/2011 CO.NO. 07(ASR)/2012 4 TRUE COPY BY ORDER (ASSISTANT REGISTRAR) INCOME TAX APPELLATE TRIBUNAL, AMRITSAR BENCH: AMRITSAR.