ITO, Jaipur V. M/S MALOO FINVEST SERVICE (P) LTD., Jaipur

ITA 1152/JPR/2010

• Counselvise Citation: [2011] 140 COUNSELVISE.COM (IT) 48003 (ITAT-JAIPUR)
• Duration Of Justice: 10 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-07-2011
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2002-2003
• Appeal Filed On: 16-09-2010
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K C MEENA
• Assessee Lawyers: A K KANODIA
• Keywords: Tax effect

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL JAIPUR BENCH B JAIPUR (BEFORE SHRI R.K.GUPTA AND SHRI N.L.KALRA) ITA NO.1152/ JP/2010 ASSESSMENT YEAR: 2002-03 PAN: AACCM 4233 E THE ITO VS. M/S. MALOO FINVEST SERVICE (P) LTD. WARD- 4 (2) 2/53, VIDHYADHAR NAGAR JAIPUR JAIPUR (APPELLANT ) (RESPONDENT) C.O. NO.106/JP/20/2010 (ARISING OUT OF ITA NO.1152/ JP/2010) ASSESSMENT YEAR: 2002-03 PAN: AACCM 4233 E M/S. MALOO FINVEST SERVICE (P) LTD. VS. THE ITO 2/53, VIDHYADHAR NAGAR WARD- 4 (2) JAIPUR JAIPUR (APPELLANT ) (RESPONDENT) DEPARTMENT BY : SHRI K.C. MEENA ASSESSEE BY : SHRI A.K. KANODIA ORDER PER N.L. KALRA, AM:- THE REVENUE HAS FILED AN APPEAL AGAINST THE ORDER OF THE LD. CIT(A)- II, JAIPUR DATED 02-07-2010 FOR THE ASSESSMENT YEAR 2002-03. THE ASSESSEE HAS FILED THE CROSS OBJECTION. 2 2.1 WE HAVE HEARD BOTH THE PARTIES. THE LD. AR HAS FILED THE PARTICULARS OF TAX EFFECT AS UNDER:- (A) TOTAL INCOME ASSESSED (R/O) RS. 6,95,790/- (B) LESS: ISSUE DISPUTED IN APPEAL RS. 5,92,778/- TOTAL INCOME RS. 1,03,012/- TAX ON TOTAL INCOME ASSESSED RS. 2,34,203/- (AS PER ASSESSMENT ORDER) LESS: TAX ON TOTAL INCOME AS ( C ) RS. 39,486/- TAX EFFECT FOR APPEAL PURPOSE RS. 1,94,717/- THESE PARTICULARS WERE GIVEN TO THE LD. DR. ON THE BASIS OF THE PARTICULARS FILED BY THE LD. AR, IT IS CLEAR THAT THE TAX EFFEC T IS LESS THAN RS. 2.00 LACS. HENCE, THE APPEAL OF THE REVENUE IS NOT MAINTAINABL E IN VIEW OF SECTION 268A OF THE ACT. 3.1 DURING THE COURSE OF HEARING, THE LD. AR HAS NO T PRESSED THE CROSS OBJECTION. HENCE, THE SAME IS DISMISSED BEING NOT P RESSED. 3 4. IN THE RESULT, THE APPEAL OF THE REVENUE AND THE CROSS OBJECTION OF THE ASSESSEE ARE DISMISSED. THE ORDER IS PRONOUNCED IN THE OPEN COURT ON 22-07 -2011. SD/- SD/- (R.K. GUPTA) (N.L. KALRA) JUDICIAL MEMBER ACCOUNTANT MEMBER JAIPUR DATED; 22/07/2011 *MISHRA COPY FORWARDED TO :- 1. THE ITO, WARD- 4 (2), JAIPUR 2. M/S. MALOO FINVEST SERVICE (P) LTD., JAIPUR 3. THE LD. CIT (A) JAIPUR 4. THE LD. CIT BY ORDER 5. THE LD.DR 6. THE GUARD FILE (ITA NO.1152/JP /10) A.R, ITAT, JAIPUR 4 5 6