ACIT, Cirlce-40, Kolkata, Kolkata V. M/s. Angles Aluminium Corporation, Mumbai

ITA 1142/KOL/2017

• Counselvise Citation: [2018] 118 COUNSELVISE.COM (IT) 9105 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 6 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-12-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2013-2014
• Appeal Filed On: 19-05-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KALYAN NATH
• Assessee Lawyers: P J BHIDE; HEMAL MEHTA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A, BENCH KOLKATA BEFORE SHRI J. SUDHAKAR REDDY, AM & SHRI S.S. VISWANETHRA RAVI, JM ITA NO.1142/KOL/2017 (ASSESSMENT YEAR: 2013-14) ACIT, CIRCLE-40, KOLKATA 2 ND FLOOR, 3, GOVT. PLACE (W), KOL-1. VS. M/S. ANGLES ALUMINIUM CORPORATION 30/112, LAXMI VIJAY INDST, ESTATE, NEW LINK ROAD, ANDHERI WEST, MUMBAI-400 053, MAHARASTRA. ./ ./PAN/GIR NO. : AAEFA 5098 C ( /APPELLANT ) .. ( / RESPONDENT ) APPELLANT BY : SHRI KALYAN NATH, ADDL. CIT, SR. DR RESPONDENT BY : SHRI P. J. BHIDE, FCA & HEMAL MEHTA, FCA / DATE OF HEARING : 11/12/2018 /DATE OF PRONOUNCEMENT: 13/12/2018 / O R D E R PER S.S. VISWANETHRA RAVI, AM: THE CAPTIONED APPEAL FILED BY THE REVENUE PERTAINING TO ASSESSMENT YEAR 2013-14, IS DIRECTED AGAINST AN ORDER PASSED BY LD. COMMISSIONER OF INCOME TAX (APPEALS)-12, KOLKATA DATED 08.02.2017. 2. THE CBDT HAS ISSUED CIRCULAR NO. 3/2018 DATED 11.07.2018, WHEREBY THE MONETARY LIMITS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE INCOME TAX APPELLATE TRIBUNAL AND HIGH COURTS AND SLP BEFORE SUPREME COURT HAVE BEEN INCREASED AS A MEASURE FOR REDUCING LITIGATION. THE REVISED MONETARY LIMITS LAID DOWN IN PARA-3 OF THIS CIRCULAR AND THE MANNER OF COMPUTING TAX EFFECT AS LAID DOWN IN PARA-4 OF THIS CIRCULAR ARE AS FOLLOWS: 3 . HENCEFORTH, APPEALS/ SLPS SHALL NOT BE FILED IN CASES WHERE THE TAX EFFECT DOES NOT EXCEED THE MONETARY LIMITS GIVEN HEREUNDER: SL. NO. APPEALS/SLPS IN INCOME-TAX MATTERS MONETARY LIMIT (IN RS) 1. BEFORE APPELLATE TRIBUNAL 20,00,000/- 2. BEFORE HIGH COURT 50,00,000/- 3. BEFORE SUPREME COURT 1,00,00,000/- 3. IN PARA-13 OF THE SAID CIRCULAR IT HAS FURTHER BEEN CLARIFIED THAT THE REVISED MONETARY LIMITS WILL APPLY RETROSPECTIVELY. THE RELEVANT PARA-13 OF THE CIRCULAR READS THUS: M/S. ANGLES ALUMINIUM CORPORATION ITA NO.1142/KOL/2017 ASSESSMENT YEAR: 2013-14 2 13. THIS CIRCULAR WILL APPLY TO SLPS/APPEALS/CROSS OBJECTIONS/REFERENCES TO BE FILED HENCEFORTH IN SC/HCS/TRIBUNAL AND IT SHALL ALSO APPLY RETROSPECTIVELY TO PENDING SLPS/APPEALS/CROSS OBJECTIONS/REFERENCES. PENDING APPEALS BELOW THE SPECIFIED TAX LIMITS IN PARA 3 ABOVE MAY BE WITHDRAWN/NOT PRESSED. 4. IN THE PRESENT CASE, THE TAX EFFECT IN THIS APPEAL BY THE REVENUE IS LESS THAN RS.20,00,000/-. THIS APPEAL HAD BEEN FILED BY THE REVENUE ON 19.05.2017 AND WAS WITHIN THE MONETARY LIMIT IN THE FORM OF TAX EFFECT FOR FILING APPEALS BEFORE TRIBUNAL. 5. IN VIEW OF THE ABOVE, THE APPEAL FILED BY THE DEPARTMENT IS DISMISSED IN LIMINE. 8. IN THE RESULT, THE APPEAL BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 13/12/2018. SD/- (J. SUDHAKAR REDDY) SD/- (S.S. VISWANETHRA RAVI) ACCOUNTANT MEMBER JUDICIAL MEMBER /KOLKATA; DATED:13/12/2018 RS, SR.PS / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT - ACIT, CIRCLE-40, KOLKATA 2. / THE RESPONDENT- M/S. ANGLES ALUMINIUM CORPORATION 3. ( ) / THE CIT(A), 4. / CIT 5. , , / DR, ITAT, KOLKATA 6. [ / GUARD FILE. //TRUE COPY// BY ORDER ASSISTANT REGISTRAR, I.T.A.T, KOLKATA BENCHES, KOLKATA .