ITO, New Delhi V. M/s. High Sky Finance & Investment Pvt. Ltd., New Delhi

ITA 1017/DEL/2012

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 0794 (ITAT-DELHI)
• Duration Of Justice: 6 year(s) 6 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 31-05-2017
• Assessment Year: 2003-2004
• Appeal Filed On: 29-02-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: F R MEENA
• Assessee Lawyers: V RAJ KUMAR
• Keywords: Tax effect
• Section: 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES: C , NEW DELHI BEFORE SHRI RS SYAL, VICE PRESIDENT AND SMT. BEENA A PILLAI, JUDICIAL MEMBER ITA NO. 1017/DEL/2012 A.Y. 2003 - 04 ITO, WARD 12(4) ROOM NO.331 C.R.BUILDING NEW DELHI VS . M/S HIGH SKY FINANCES & INVESTMENT PVT.LTD. 40, POCKET CIT(A) - 2, SECTOR - 11 ROHINI NEW DELHI 110 085 CROSS OBJECTION NO.157/DEL/2012 (IN ITA NO.1017/DEL/2012) A.Y. 2003 - 04 M/S HIGH SKY FINANCES & INVESTMENT PVT.LTD. NEW DELHI 110 085 VS . ITO, WARD 12(4) ROOM NO.331 C.R.BUILDING NEW DELHI (APPELLANT) (RESPONDENT ) DEPARTMENT BY SHRI F.R.MEENA, SR.D.R. ASSESSEE BY SH. V.RAJ KUMAR, ADV. DATE OF HEARING 20/09/2018 DATE OF PRONOUNCEMENT 20 /09/2018 ORDER PER BEENA A PILLAI, JUDICIAL MEMBER THE APPEAL IS FILED BY REVENUE AGAINST ORDER DATED 08.12.2011 OF LD.CIT(A) - XV, NEW DELHI IN RELATION TO A.Y. 2003 - 04. ASSESSEE HAS FILED CROSS OBJECTION. ADMITTEDLY THE TAX EFFECT IN THE PRESENT APPEAL IS LESS THAN RS.20 LAKHS. 2 . IN TERMS OF CBDT CIRCULAR NO. 03 OF 2018, DATED 11TH JULY, 2018 READ WITH S.268A OF THE INCOME TAX ACT, 1961, THE REVENUE SHOULD HAVE EITHER ITA NO.1017/DEL/2012 AND C.O.NO.157/DEL/12, A.Y. 2003 - 04 HIGH SKY FINANCE & INVESTMENT PVT.LTD. 2 NOT FILED THE PRESENT APPEAL , OR SHOULD HAVE WITHDRAW N THE SAME, AS TAX EFFECT IN TH IS APPEAL IS ADMITTEDLY LESS THAN RS. 20,00,000/ - . 3 . IN VIEW OF THE ABOVE, THE APPEAL FILED BY REVENUE IS DISMISSED. 4 . AS WE HAVE DISMISSED REVENUE S APPEAL, THE CROSS OBJECTION FI LED BY ASSESSEE BECOMES INFRUCTUOUS AND IS DISMISSED AS SUCH. 5 . IN THE RESULT, APPEAL FILED BY REVENUE AS WELL AS THE C.O. FILED BY ASSESSEE BOTH ARE DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON 2 0 T H SEPTEMBER , 2018. S D / - S D / - (R.S.SYAL) (BEENA A PILLAI) VICE PRESIDENT JUDICIAL MEMBER DT. 2 0 T H SEPTEMBER, 2018 *GMV COPY FORWARDED TO: - 1 . APPELLANT 2 . RESPONDENT 3 . CIT 4 . CIT(A) 5 . DR, ITAT - TRUE COPY - BY ORDER, ASSISTANT REGISTRAR ITAT DELHI BENCHES ITA NO.1017/DEL/2012 AND C.O.NO.157/DEL/12, A.Y. 2003 - 04 HIGH SKY FINANCE & INVESTMENT PVT.LTD. 3 DETAILS DATE DRAFT DICTATED ON DRAGON 20 /09/18 DRAFT PLACED BEFORE AUTHOR 20/09/18 DRAFT PROPOSED & PLACED BEFORE THE SECOND MEMBER DRAFT DISCUSSED/APPROVED BY SECOND MEMBER APPROVED DRAFT COMES TO THE SR. PS/PS KEPT FOR PRONOUNCEMENT ORDER UPLOADED ON FILE SENT TO BENCH CLERK DATE ON WHICH THE FILE GOES TO HEAD CLERK DATE ON WHICH FILE GOES TO A.R. DATE OF DISPATCH OF ORDER