Alagappa Annamalai, Chidambaram V. ACIT, Cuddalore

CO 97/CHNY/2015

• Counselvise Citation: [2016] 123 COUNSELVISE.COM (IT) 1907 (ITAT-CHENNAI)
• Duration Of Justice: 4 month(s) 24 day(s)
• Appeal Type: Cross Objection
• Pronouncement Date: 21-01-2016
• Appeal Filed By: Assessee
• Bench Allotted: D
• Assessment Year: 2005-2006
• Appeal Filed On: 28-08-2015
• Court: TRIBUNAL
• Assessee Lawyers: N QUADIR HOSEYN
• Keywords: Reopening of assessment; Tax effect
• Section: 54F; 148

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH : CHENNAI . . . , . !' , # $ % [ BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI A. MOHAN ALANKAMONY, ACCOUNTANT MEMBER ] ./ I.T.A.NO.1522/MDS/2015 & C.O.NO.97/MDS/2015 / ASSESSMENT YEAR : 2005-06 THE ASSTT. COMMISSIONER OF INCOME-TAX CUDDALORE CIRCLE CUDDALORE VS. SHRI ALAGAPPA A NNAMALAI NO.66/22-A-2, T.P. KOIL STREET CHIDAMBARAM 608 001 [PAN AAHPA 5460 F (APPELLANT) (RESPONDENT /CROSS OBJECTOR ) DEPARTMENT BY : SHRI GURU BASHYAM, JCIT ASSESSEE BY : SHRI N. QUADIR HOSEYN, ADVOCATE / DATE OF HEARING : 21 - 1 - 2016 / DATE OF PRONOUNCEMENT : 21 - 01 - 2016 / O R D E R PER N.R.S.GANESAN, JUDICIAL MEMBER THIS APPEAL OF THE REVENUE AND CROSS OBJECTION OF THE ASSESSEE ARE DIRECTED AGAINST THE ORDER OF THE COM MISSIONER OF INCOME-TAX (APPEALS), PUDUCHERRY, DATED 11.3.2015 F OR ASSESSMENT YEAR 2005-06. 2. THERE IS A DELAY OF 37 DAYS IN FILING THE APPEAL. THE REVENUE HAS FILED AN AFFIDAVIT DATED 26.6.2015 FOR CONDONATION OF DELAY. AFTER HEARING BOTH SIDES, WE FIND THAT THER E WAS SUFFICIENT CAUSE ITA NO. 1522/15 CO NO.97/15 :- 2 -: FOR NOT FILING THE APPEAL BEFORE THIS TRIBUNAL WITH IN THE PRESCRIBED TIME. ACCORDINGLY, THE DELAY OF 37 DAYS IN FILING THE APP EAL IS CONDONED AND THE APPEAL IS ADMITTED. 3. IN THE CROSS OBJECTION, THE ASSESSEE CHALLENGED TH E REOPENING OF ASSESSMENT BY ISSUING NOTICE U/S 148 OF THE ACT. THE ONLY ISSUE RAISED BEFORE THE CIT(A) IS WITH REGARD TO GRANT OF EXEMPTION U/S 54F OF THE ACT IN RESPECT OF THE ADD ITION MADE BY THE ASSESSING OFFICER FOR COMPUTING CAPITAL GAINS. THE CIT(A) DIRECTED THE ASSESSING OFFICER TO GRANT DEDUCTION U/S 54F OF TH E ACT. ON THE DEDUCTION ALLOWED U/S 54F, THE TAX EFFECT IS LESS THAN ` 10 LAKHS. THEREFORE, THE REVENUES APPEAL IS NOT MAINTAINABLE BEFORE THIS TRIBUNAL IN VIEW OF CBDT CIRCULAR NO.21/2015 DATED 10.12.2015. SINCE THE REVENUES APPEAL IS NOT MAINTAINABLE, THE ISSUE OF REOPENING RAISED BY THE ASSESSEE DOES NOT SURVIVE FOR ADJUDICATION ON MERIT. ACCORDINGLY, THE REVENUES APPEAL AND THE CROSS OBJ ECTION OF THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ON 21 ST JANUARY, 2016, AT CHENNAI. SD/- SD/- ( . !' ) (A. MOHAN ALANKAMONY) # / ACCOUNTANT MEMBER ( . . . ) ) (N.R.S. GANESAN) / JUDICIAL MEMBER / CHENNAI ! / DATED: 21 ST JANUARY, 2016 RD ITA NO. 1522/15 CO NO.97/15 :- 3 -: !' # $% &% / COPY TO: 1 . '( / APPELLANT 3. ) () / CIT(A) 5. %+, # - / DR 2. #.'( / RESPONDENT 4. ) / CIT 6. ,/ 0 / GF