A.C.I.T Cir - 2/Burdwan, Burdwan V. M/s Nayek Paper Industries Pvt Ltd, Burdwan

ITA 1138/KOL/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 5093 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 9 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-02-2016
• Appeal Filed By: Department
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 08-05-2013
• Court: TRIBUNAL
• Department Lawyers: RANU BISWAS
• Assessee Lawyers: H S BHATTACHARJEE
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: K OLKATA [BEFORE SHRI MAHAVIR SINGH, JM & SHRI M. BALAGANES H, AM] I.T.A NO.1138/KOL/2013 ASSESSMENT YEAR: 2009-10 ASSISTANT COMMISSIONER OF INCOME-TAX, VS. NAYEK PAPER INDUSTRIES PVT. LTD. CIRCLE-2, BURDWAN (PAN:AANCM1683Q) ( APPELLANT ) ( RESPONDENT ) DATE OF HEARING: 29.02.2016 DATE OF PRONOUNCEMENT: 29.02.2016 FOR THE APPELLANT: SMT. RANU BISWAS, JCIT FOR THE RESPONDENT: SHRI H. S. BHATTACHARJEE, AR ORDER PER SHRI MAHAVIR SINGH, JM: THIS APPEAL BY REVENUE IS ARISING OUT OF ORDER OF C IT(A)-DURGAPUR VIDE APPEAL NO. 124/CIT(A)/ASL/ACIT/CIR-2/BWN/2011-12 DATED 25.02.2 013. ASSESSMENT WAS FRAMED BY ACIT, CIRCLE-2, BURDWAN U/S. 143(3) OF THE INCOME-TAX ACT , 1961 (HEREINAFTER REFERRED TO AS THE ACT) FOR ASSESSMENT YEAR 2009-10 VIDE HIS ORDER DATED 08.11. 2011. 2. AT THE OUTSET, IT IS SEEN THAT THE QUANTUM INVO LVED IN THIS CASE IS RS.10,16,012/-AND TAX EFFECT O N THE DISPUTED ADDITION BEFORE US IS RS.3,45,444/-, W HICH IS LESS THAN RS. 10 LACS. 3. AFTER PERUSING THE MATERIALS AVAILABLE ON RECOR D, WE FIND THAT THE ADDITIONS DISPUTED BEFORE US IS BELOW THE TAX EFFECT LIMIT PRESCRIBED BY CBDT VIDE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 FOR PREFERRING APPEALS BEFORE TRIBUNAL BY THE REVENUE. ON PERUSAL OF THE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 AND THE MATERIALS AVAILABLE ON RECORD, L D. DR COULD NOT POINT OUT WHETHER THIS CASE FALLS UNDER ANY OF THE EXCEPTION AS PROVIDED IN THE CIRCU LAR DESPITE SPECIFIC OPPORTUNITY WAS GIVEN, DOES NO T FALL UNDER ANY OF THE EXCEPTIONS CONTEMPLATED IN TH E SAID CIRCULAR, AS THIS IS COVERED. WE ALSO FIND THAT THE CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED M ONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PENDI NG APPEALS ALSO. WE FIND THAT THE CIRCULAR IS BINDING ON THE TAX AUTHORITIES. THIS POSITION HAS BEEN CONFIRMED BY THE HONBLE APEX COURT IN THE CASE OF COMMISSIONER OF C USTOMS VS INDIAN OIL CORPORATION LTD REPORTED IN 267 ITR 272 (SC). HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESE RVES TO BE DISMISSED IN TERMS OF LOW TAX EFFECT VIDE CIR CULAR NO.21 / 2015 DATED 10.12.2015. ACCORDINGLY, THIS BEING A LOW TAX EFFECT CASE, WE DISMISS THIS A PPEAL OF REVENUE IN LIMINE, AS UNADMITTED, WITHOUT GOING INTO THE MERITS OF THE CASE. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT. SD/- SD/- (M. BALAGANESH) (MAHAVIR SINGH) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 29TH FEBRUARY, 2016 JD. SR. P.S 2 ITA NO.1138/KOL/2013 NAYEK PAPER INDUSTRIES PVT. LTD. AY 2009-10 2 COPY OF THE ORDER FORWARDED TO: 1. APPELLANT ACIT, CIRCLE-2, BURDWAN. 2. RESPONDENT M/S. NAYEK PAPER INDUSTRIES PVT. LTD., VILL & PO MEMARI, DIST. BURDWAN, PIN- 713146. 3. CIT(A), DURGAPUR 4. CIT, 5. DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .