The The Ajnala Co-Op Sugar Mills Ltd, Amritsar. V. The Income Tax Officer, Amritsar.

CO 8/ASR/2017

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 0327 (ITAT-AMRITSAR)
• Duration Of Justice: 4 year(s) 3 month(s) 23 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 08-07-2021
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2006-2007
• Appeal Filed On: 15-03-2017
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: G S GROVER
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH, AMRITSAR. BEFORE SH. LALIET KUMAR, JUDICIAL MEMBER AND DR. M. L. MEENA, ACCOUNTANT MEMBER I.T.A. NO. 545/ASR/2016 AS SESSMENT YEAR: 2006-07 I.T.O., WARD-4(5), AMRITSAR (APPELLANT) VS. THE AJNALA CO-OP. SUGAR MILL LTD., VILL. BHALLA PIND, AJNALA ROAD, AMRITSAR [PAN: AAAAT 0924F] (RESPENDENT) C. O. NO. 08/ASR/2017 IN I.T.A. NO. 545/ASR/2016 AS SESSMENT YEAR: 2006-07 THE AJNALA CO-OP. SUGAR MILL LTD., VILL. BHALLA PIND, AJNALA ROAD, AMRITSAR [PAN: AAAAT 0924F] (APPELLANT) VS. I.T.O., WARD-4(5), AMRITSAR (RESPENDENT) RESPONDENT BY SH. G. S. GROVER, ADV. APPELLANT BY SMT. RATINDER KAUR, D. R. DATE OF HEARING 08.07.2021 DATE OF PRONOUNCEMENT 08.07.2021 ITA NO. 545/ASR/2016& CO NO. 08/ASR/2017 2 ORDER PER LALIET KUMAR, J.M. VIDE CBDT CIRCULAR DATED 8TH AUGUST 2019, THE INCOM E TAX DEPARTMENT HAS ANNOUNCED ITS POLICY DECISION NOT TO FILE, OR PRESS , THE APPEAL, BEFORE THIS TRIBUNAL, AGAINST THE APPELLATE ORDERS FAVOURABLE TO THE ASSE SSEE IN THE CASE 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 AUG UST 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 APPEAL BU T ALSO TO THE PENDING APPEAL. 2. AS A STEP TOWARDS MANAGEMENT OF LITIGATION, THE CBDT HAS DECIDED TO FURTHER ENHANCE THE MONETARY LIMITS FOR FILING THE APPEAL IN INCOME TAX CASES VIDE PARA 3 AND PARA 5 OF THE AFORESAID CIRCULAR AND THUS TO REMOVE THE AGONY OF UNCERTAINTY TO THE TAXPAYERS WHO HAVE BEEN SUCCESSFUL BEFORE THE LOWER APPELLATE AUTHORITIES. 3. THE LEARNED DEPARTMENTAL REPRESENTATIVES PLACED RELIANCE ON THE ORDER. 4. IN THE LIGHT OF THE ABOVE DISCUSSIONS, AND IN TH E LIGHT OF THE CBDT CIRCULAR DATED 8TH AUGUST 2019, THE APPEAL, INVOLVING TAX EFFECT O F OR LESS THAN RS 50 LAKHS, IS DISMISSED AS WITHDRAWN. 5. WHEN THE APPEAL FILED BY THE REVENUE STAND DISMI SSED AND C O OF THE ASSESSEE IS INFRUCTUOUS AS DISMISSED. ITA NO. 545/ASR/2016& CO NO. 08/ASR/2017 3 6. IN THE RESULT, THE APPEAL OF THE REVENUE AS WELL AS THE CO OF THE ASSESSEE IS INFRUCTUOUS AS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 08.07.2021 SD/- SD/- (DR. M. L. MEENA) (LALIET KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 08.07.2021 GP/SR. PS. 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