JCIT (OSD), CHENNAI V. Crescent Marine Ventures Ltd., CHENNAI

ITA 1182/CHNY/2016

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 8951 (ITAT-CHENNAI)
• Duration Of Justice: 2 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-07-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2002-2003
• Appeal Filed On: 29-04-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHIVASRINIVAS IRS
• Assessee Lawyers: VENKATACHALAM
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . , . , BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBE R AND SHRI. G. PAVAN KUMAR, JUDICIAL MEMBER ./I.T.A. NO. 1182/MDS/2016 / ASSESSMENT YEAR : 2002-2003 THE JOINT COMMISSIONER OF INCOME TAX, (OSD) CORPORATE CIRCLE 1(2) CHENNAI VS. M/S. CRESCENT MARINE VENTURES LTD, 216-B, ENNORE COASTAL HIGH ROAD, KALADIPET, CHENNAI 600 019. [PAN AAACC 2139D] ( / APPELLANT) ( /RESPONDENT) ! ' # / APPELLANT BY : SHRI. SHIVASRINIVAS, IRS, JCIT. $% ! ' # /RESPONDENT BY : SHRI. VENKATACHALAM, CA & ' ' ( /DATE OF HEARING : 05-07-2016 ) ' ' ( /DATE OF PRONOUNCEMENT : 14-07-2016 / O R D E R PER G. PAVAN KUMAR, JUDICIAL MEMBER: THE APPEAL FILED BY THE REVENUE IS DIRECTED AG AINST ORDER OF THE COMMISSIONER OF INCOME-TAX (APPEALS)-1, CHENNAI IN ITA NO. 666/08- 09, DATED 18.02.2016 FOR THE ASSESSMENT YEAR 2002-2 003 PASSED U/S.143(3) R.W.S. 147 AND 250 OF THE INCOME TAX AC T, 1961 (HEREIN AFTER REFERRED TO AS THE ACT). ITA NO.1182/MDS/2016. :- 2 -: 2. AT THE TIME OF HEARING, BOTH THE PARTIES FAIRLY CO NCEDED THAT TAX EFFECT IN THIS APPEAL IS LESS THAN MONETARY LIMIT OF > 10,00,000/- FIXED BY THE CBDT TO FILE AN APPEAL BY THE REVENUE BEFORE THE TRIBUNAL AS PER THE CBDT CIRCULAR NO.21/2015, DATED 10 TH DECEMBER, 2015 AND THE REVENUE AUTHORITIES ARE PRECLUDED FROM FILING AND PROSECUTI NG THE APPEAL BEFORE THE TRIBUNAL. ACCORDINGLY, REVENUE APPEAL IS DISMISSE D AS UN-ADMITTED. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMIS SED. ORDER PRONOUNCED ON THURSDAY, THE 14TH DAY OF JUL Y, 2016 AT CHENNAI. SD/- SD/- ( . ! ) (A. MOHAN ALANKAMONY) # $% / ACCOUNTANT MEMBER ( & . ' ( ) (G. PAVAN KUMAR) ) $% / JUDICIAL MEMBER *& / CHENNAI + / DATED:14.07.2016. KV , ' $'./ 0/' / COPY TO: 1 . ! / APPELLANT 2. $% ! / RESPONDENT 3. 1' () / CIT(A) 4. 1' / CIT 5. /4 5 $'6 / DR 6. 5 7 8 & / GF