DCIT, Yamunanagar V. M/s Yamuna Power & Infrastructure Ltd., Yamunanagar

ITA 1064/CHANDI/2014

• Counselvise Citation: [2016] 121 COUNSELVISE.COM (IT) 2587 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 1 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 25-08-2015
• Assessment Year: 2010-2011
• Appeal Filed On: 01-12-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DIVISION BENCH,CHANDIGARH BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND MS.RANO JAIN, ACCOUNTANT MEMBER ITA NO. 1064/CHD/2014 ASSESSMENT YEAR: 2010-11 THE DCIT, VS M/S DECO PLYWOOD INDUSTRIES, YAMUNA NAGAR CIRCLE, VILLAGE NAHARPUR, YAMUNA NAGAR. YAMUNA NAGAR. PAN: AADFD8888Q (APPELLANT) (RESPONDENT) APPELLANT BY : SHRI MANOJ MISHRA RESPONDENT BY : SHRI VISHAL MOHAN (FOR SHRI TEJ MOHAN SINGH) DATE OF HEARING : 19.01.2016 DATE OF PRONOUNCEMENT : 19.01.2016 O R D E R PER BHAVNESH SAINI,JM THIS APPEAL BY REVENUE HAS BEEN DIRECTED AGAINST T HE ORDER OF LD. CIT(APPEALS), PANCHKULA DATED 02.09.20 14 FOR ASSESSMENT YEAR 2010-11. IN THIS CASE, THE ASSESSI NG OFFICER REJECTED THE BOOKS OF ACCOUNT UNDER SECTION 145(3) OF THE INCOME TAX ACT AND APPLYING AVERAGE PROFIT RATE OF LAST TH REE YEARS, MADE ADDITION OF RS. 45,27,827/-. 2. THE LD. CIT(APPEALS) RESTRICTED PART ADDITION ON THIS ISSUE AND GRANTED RELIEF TO THE ASSESSEE IN A SUM OF RS. 18,51,805/- WHICH IS IN CHALLENGE IN APPEAL BEFORE THE TRIBUNAL . 3. ACCORDING TO CIRCULAR NO. 21/2015 DATED 10.12.20 15, THE CBDT IN SUPERCESSION OF EARLIER INSTRUCTIONS HAS DI RECTED THAT 2 DEPARTMENTS APPEALS BEFORE ITAT SHALL NOT BE FILED IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY L IMIT OF RS. 10 LACS. THE TAX WILL NOT INCLUDE ANY INTEREST THEREO N. IT IS FURTHER CLARIFIED THAT IF IN THE CASE OF AN ASSESSEE, DISPU TED ISSUES ARISE IN MORE THAN ONE ASSESSMENT YEAR, APPEAL CAN BE FIL ED IN RESPECT OF SUCH ASSESSMENT YEAR OR YEARS IN WHICH THE TAX E FFECT IN RESPECT OF DISPUTED ISSUES EXCEEDS THE MONETARY LIM IT SO SPECIFIED. THIS INSTRUCTION WILL APPLY RETROSPECTI VELY TO PENDING APPEALS AND APPEALS TO BE FILED HENCEFORTH BEFORE T HE TRIBUNAL. THE PENDING APPEALS BELOW THE SPECIFIED TAX LIMIT M AY BE WITHDRAWN/NOT PRESSED. 4. ADMITTEDLY, IN THE DEPARTMENTAL APPEAL, THE TAX EFFECT IS LESS THAN RS. 10 LACS, THEREFORE, DEPARTMENTAL APPE AL IS NOT MAINTAINABLE. THE LD. CIT(APPEALS) DECIDED THE ISS UE IN DEPARTMENTAL APPEAL ON FACTS AND THE CASE OF THE RE VENUE WOULD NOT FALL IN THE EXCEPTIONS PROVIDED IN THE ABOVE CI RCULAR. 5. IN VIEW OF THE ABOVE, LD. DR STATED THAT SINCE D EPARTMENTAL APPEAL IS FILED AGAINST THE CBDT INSTRUCTIONS, THER EFORE, HE WOULD NOT BE PRESSING DEPARTMENTAL APPEAL. THEREFO RE, THE ABOVE DEPARTMENTAL APPEAL IS DISMISSED BEING NOT PR ESSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (RANO JAIN) (BHAVNE SH SAINI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 19 TH JANUARY, 2016. POONAM COPY TO: THE APPELLANT, THE RESPONDENT, THE CIT(A), THE CIT, DR ASSISTANT REGISTRAR, ITAT/CHD