ITO, WD-32(3), KOLKATA, Kolkata V. M/s Modern International, Kolkata

ITA 1242/KOL/2015

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 1470 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 11 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-09-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 30-09-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: KALYAN NATH DAS
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 1242/KOL./2015 ASSESSMENT YEAR: 2010-2011 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA D BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI S.S.VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A. NO. 1242/KOL/ 2015 ASSESSMENT YEAR: 2010-2011 INCOME TAX OFFICER,................................ ...................................APPELLANT WARD-32(3), KOLKATA, 10B, MIDDLETON ROW, 2 ND FLOOR, KOLKATA-700 071 -VS.- M/S. MODERN INTERNATIONAL,......................... ............................RESPONDENT AZIMGANJ HOUSE, 7, CAMAC STREET, KOLKATA-700 017 [PAN: AAKFM 1904 D] APPEARANCES BY: SHRI KALYAN NATH DAS, ADDL. CIT, D.R., FOR THE DEPA RTMENT SHRI ANIL KOCHAR, FCA, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : SEPTEMBER 12, 201 7 DATE OF PRONOUNCING THE ORDER : SEPTEMBER 12, 2017 O R D E R PER SHRI P.M. JAGTAP, A.M. .: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-9, KOLKATA DAT ED 29.07.2015, WHEREBY HE ALLOWED THE CLAIM OF THE ASSESSEE FOR DE DUCTION UNDER SECTION 10A OF THE INCOME TAX ACT, 1961 IN RESPECT OF INTER EST INCOME. 2. WE HAVE HEARD THE ARGUMENTS OF BOTH THE SIDES AN D ALSO PERUSED THE RELEVANT MATERIAL AVAILABLE ON RECORD. AS POINTED O UT BY THE LD. COUNSEL FOR THE ASSESSEE AT THE TIME OF HEARING FIXED TODAY , THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE MONE TARY LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE APPEAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEARLY EVIDENT FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 I.T.A. NO. 1242/KOL./2015 ASSESSMENT YEAR: 2010-2011 PAGE 2 OF 2 (SUPRA) ISSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULAR, THE SAID MON ETARY LIMIT IS APPLICABLE RETROSPECTIVELY EVEN TO THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED THAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00,000/- MAY BE WITHDRAWN/ NOT P RESSED. KEEPING IN VIEW THE INSTRUCTION GIVEN BY THE CBDT VIDE CIRCULA R NO. 21/2015 DATED 10.12.2015, WHICH IS SQUARELY APPLICABLE IN THE PRE SENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WIT HDRAWN/NOT PRESSED AND DISMISSED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON SEPTEMBER 12, 2017. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAG TAP) JUDICIAL MEMBER ACCOUNTANT MEM BER KOLKATA, THE 12 TH DAY OF SEPTEMBER, 2017 COPIES TO : (1) INCOME TAX OFFICER, WARD-32(3), KOLKATA, 10B, MIDDLETON ROW, 2 ND FLOOR, KOLKATA-700 071 (2) M/S. MODERN INTERNATIONAL, AZIMGANJ HOUSE, 7, CAMAC STREET, KOLKATA-700 017 (3) COMMISSIONER OF INCOME TAX (APPEALS)-9, KOLKA TA; (4) COMMISSIONER OF INCOME TAX ,KOLKAT A (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY, HEAD OF OFFICE/DDO INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.