DCIT, Circle - 1, Kolkata, Kolkata V. M/s. Gaurav Finance Ltd., Kolkata

ITA 103/KOL/2011

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 5166 (ITAT-KOLKATA)
• Duration Of Justice: 4 year(s) 11 month(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 20-07-2011
• Assessment Year: 2007-2008
• Appeal Filed On: 13-01-2011
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANJAN PRASAD RAY
• Assessee Lawyers: N O N E
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 103/KOL./2011 ASSESSMENT YEAR: 2007-2008 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A. NO. 103/KOL/ 2011 ASSESSMENT YEAR: 2007-2008 DEPUTY COMMISSIONER OF INCOME TAX,................. ...............APPELLANT CIRCLE-1, KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 -VS.- M/S. GAURAV FINANCE LIMITED,....................... ...................RESPONDENT ROOM NO. 405, 4 TH FLOOR, 27, WESTON STREET, KOLKATA-700 012 [PAN : AABCG 0375 N] APPEARANCES BY: SHRI ANJAN PRASAD RAY, JCIT, SR. D.R., FOR THE DEPARTMENT N O N E, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : JANUARY 08, 2016 DATE OF PRONOUNCING THE ORDER : JANUARY 08, 2016 O R D E R PER SHRI P.M. JAGTAP :- THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-I, KOLKATA DAT ED 30.09.2010 FOR THE ASSESSMENT YEAR 2007-08. 2. AS NOTED, AT THE TIME OF HEARING, THE TAX EFFECT INVOLVED IN THIS APPEAL IS BELOW RS.10,00,000/- AND THIS POSITION, W HICH IS MANIFEST FROM THE GROUNDS RAISED BY THE REVENUE AS WELL AS THE MA XIMUM RATE OF TAX OF 20% APPLIED BY THE ASSESSING OFFICER IN THE ASSESSM ENT ORDER, IS NOT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/20 15 DATED 10 TH DECEMBER, 2015 RECENTLY ISSUED BY THE CBDT, THE MON ETARY LIMIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULA R, THE SAID MONETARY I.T.A. NO. 103/KOL./2011 ASSESSMENT YEAR: 2007-2008 PAGE 2 OF 2 LIMIT IS APPLICABLE RETROSPECTIVELY EVEN TO THE APP EALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED THAT SUCH PE NDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00,000/- MAY BE W ITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUCTION GIVEN BY THE CBDT V IDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WHICH IS SQUARELY APPLICA BLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMISSED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON JANUARY 08, 2 016. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER ACCOUNTANT MEMBER KOLKATA, THE 8 TH DAY OF JANUARY, 2016 COPIES TO : (1) DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-1, KOLKATA, AAYAKAR BHAWAN, P-7, CHOWRINGHEE SQUARE, KOLKATA-700 069 (2) M/S. GAURAV FINANCE LIMITED, ROOM NO. 405, 4 TH FLOOR, 27, WESTON STREET, KOLKATA-700 012 (3)COMMISSIONER OF INCOME-TAX (APPEALS), CENTRAL-I , KOLKATA (4) COMMISSIONER OF INCOME TAX, KOLKATA (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.