Asst.C.I.T., Raichur V. M/s Sindhanur Urban Co-Operative Bank Ltd., Bellary

ITA 1048/BANG/2016

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 8937 (ITAT-BANGALORE)
• Duration Of Justice: 3 year(s) 4 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 20-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: S CHAKRAPANI BENGALURU

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND S HRI B.R. B ASKARAN , ACCOUNTANT MEMBE R ITA NO. 1048 /BANG/2016 ASSESSMENT YEAR : 2008 - 09 THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, RAICHUR. VS. M/S. SINDHANUR URBAN CO-OPERATIVE BANK, SINDHANUR. RAICHUR. PAN: AACAS 9025L APP ELLANT RESPONDENT APP ELLANT BY : SHRI S. CHAKRAPANI, ADDL .CIT(DR)(ITAT), BENGALURU . RESPONDENT BY : S HRI PRANAV KRISHNA, ADVOCATE DATE O F HEARING : 26. 09.2019 DATE OF PRONOUNCEMENT : 27 .09.2019 O R D E R PER N V VASUDEVAN, VICE PRESIDENT THIS APPEAL BY THE REVENUE IS AGAINST THE ORDE R DATED 10.03.2016 OF THE CIT(APPEALS), GULBARGA RELATING TO ASSESSMEN T YEAR 2008-09. 2. IT IS NOT IN DISPUTE BEFORE US THAT THE TAX EFF ECT PERTAINING TO THE AMOUNT DISPUTED BY THE REVENUE IN THIS APPEAL IS LE SS THAN THE MONETARY LIMIT OF RS.50 LAKHS FIXED BY THE CBDT IN CIRCULAR NO.17/2019, DATED 08.08.2019, WHICH IS IN SUPERSESSION OF ITS CIRCULA R NO. 03/2018, DATED 11.07.2018, IN RELATION TO FILING OF APPEALS BEFORE THE INCOME TAX APPELLATE TRIBUNAL. TAKING INTO CONSIDERATION THE ABOVE, AND ALSO THE FACT THAT THE CBDT CIRCULAR UNDER REFERENCE APPLIES RETROSPECTIVE LY EVEN TO PENDING APPEALS, WE HOLD THAT THE ABOVE LISTED APPEAL FILED BY THE REVENUE IS NOT ITA NO. 1048/BANG/2016 PAGE 2 OF 2 MAINTAINABLE AND IS LIABLE TO BE DISMISSED IN LIMINE . ACCORDINGLY, THE APPEAL IS DISMISSED. 3. IN THE RESULT, THE APPEAL BY THE REVENUE IS DISM ISSED. PRONOUNCED IN THE OPEN COURT ON THIS 27 TH DAY OF SEPTEMBER, 2019. SD/- SD/- ( B R BASKARAN ) ( N.V. VASUDEVAN ) ACCOUNTANT MEMBER VICE PRESIDENT BANGALORE, DATED, THE 27 TH SEPTEMBER, 2019. / D ESAI S MURTHY / COPY TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, I TAT, BANGALORE. 6. GUARD FIL E BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE.