DCIT, CC-II, Chandigarh V. M/s VKM Portfolios Pvt. Ltd., Chandigarh

ITA 1188/CHANDI/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 6551 (ITAT-CHANDIGARH)
• Duration Of Justice: 4 month(s) 3 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-12-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 01-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHISH ABROL
• Assessee Lawyers: ASHISH CHADHA
• Keywords: Tax effect

Judgement Text

1 IN THE INCOME TAX APPELLATE TRIBUNAL CHANDIGARH BENCHES B, CHANDIGARH BEFORE SHRI SANJAY GARG, JUDICIAL MEMBER & MS. ANNAPURNA GUPTA, ACCOUNTANT MEMBER ITA NO. 1188/CHD/2017 ASSESSMENT YEAR: 2009-10 THE DCIT, VS. M/S VKM PORTFOLIOS PVT LTD., CENTRAL CIRCLE-II, SCO 850, SHIVALIK ENCLAVE, CHANDIGARH MANIMAJRA, CHANDIGARH PAN NO. AACCV0892Q (APPELLANT) (RESPONDENT) APPELLANT BY : SH. ASHISH ABROL RESPONDENT BY : SH. ASHISH CHADHA DATE OF HEARING : 05.12.2017 DATE OF PRONOUNCEMENT : 05.12.2017 ORDER PER SANJAY GARG, JUDICIAL MEMBER: THE PRESENT APPEAL HAS BEEN PREFERRED BY THE REVENU E AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS), [HEREINAFTER REFERRED TO AS CIT(A)] - 3, GURGAON DATED 16.05.2017. 2. AT THE OUTSET, THE LD. AR HAS STATED THAT THAT T AX EFFECT INVOLVED IN THE PRESENT CASE IS LESS THAN THE PRESCRIBED LIMIT OF RS. 10 LACS. HE, IN THIS REGARD HAS PRODUCED ON RECORD THE TAX EFFECT CALCUL ATION SHEET. THE LD. DR AFTER GOING THROUGH THE CALCULATION SHEET HAS AGREE D THAT THE TAX EFFECT IS LESS THAN THE PRESCRIBED LIMIT AND REQUESTED FOR WI THDRAWAL OF APPEAL. HE 2 HAS ALSO GIVEN HIS REMARKS AS WITHDRAWN ON THE ME MORANDUM OF GROUNDS OF APPEAL ITSELF. THE LD. COUNSEL FOR THE ASSESSEE HAS NO OBJECTION TO THE SAID WITHDRAWAL. 3. IN VIEW OF THE ABOVE, THE APPEAL OF THE REVENUE IS DISMISSED AS WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 05.12.2017 SD/- SD/- (ANNAPURNA GUPTA) (SANJAY GARG) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 05.12.2017 RKK COPY TO: 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT 4. THE CIT(A) 5. THE DR