DCIT, CC-II, Chandigarh V. M/s Halcyon Life Science Pvt. Ltd., Chandigarh

ITA 1303/CHANDI/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 8170 (ITAT-CHANDIGARH)
• Duration Of Justice: 1 year(s) 7 month(s) 7 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 08-04-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 01-04-2019
• Assessment Year: 2009-2010
• Appeal Filed On: 01-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHISH GUPTA
• Assessee Lawyers: VED JAINCA
• Keywords: Question of law; Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL, CHANDIGARH BENCH A CHANDIGARH !, ' # , $ % & ' ( , )* # BEFORE: SMT. DIVA SINGH, JM & SMT.ANNAPURNA GUPTA, AM ITA NO. 1303/CHD/2017 ASSESSMENT YEAR : 2009-10 THE DC IT, CR BUILDING, CHANDIGARH. VS M/S HALCYON LIFE SCIENCE P.LTD., SCO 849, SHIVALIK ENCLAVE, NAC MANIMAJRA, CHANDIGARH. PAN NO: AADCK4208J APPELLANT RESPONDENT ! REVENUE BY : SHRI ASHISH GUPTA, CIT-DR '# ! ASSESSEE BY : SHRI VED JAIN, CA $ % #& DATE OF HEARING : 01.04.2019 '()* #& D ATE OF PRONOUNCEMENT : 08.04.2019 )+/ ORDER PER DIVA SINGH THE PRESENT APPEAL HAS BEEN FILED BY THE REVENUE ASSAILING THE CORRECTNESS OF THE ORDER DATED 05.06.2017 OF LD. CIT(APPE ALS)-3 GURGAON PERTAINING TO 2009-10 ASSESSMENT YEAR. 2. AT THE TIME OF HEARING, THE LD. AR HAS STATED THAT TA X EFFECT INVOLVED IN THE PRESENT CASE IS LESS THAN RS. 20 LACS. THE LD. DR ON GOING THROUGH THE MATERIAL AVAILABLE ON RECORD HAS ALSO FAIRLY ADMITTED THAT C BDT CIRCULAR NO. 3/2018 IS APPLICABLE TO THIS APPEAL, HENCE, THIS APPEAL OF T HE REVENUE IS LIABLE TO BE DISMISSED. 3. IT MAY BE NOTED THAT CBDT VIDE CIRCULAR NO. 3/2018 D ATED 11.07.2018 HAS REVISED THE MONETARY LIMIT UPTO RS.20 LACS FOR FILING APP EALS BY THE DEPARTMENT BEFORE THE TRIBUNAL AND FURTHER VIDE PARA 13 OF THE SAID CIRCULAR IT HAS BEEN CLARIFIED THAT SAID CIRCULAR IS APPLICABLE RETROSPECT IVELY TO THE PENDING APPEALS ALSO. THE HONBLE PUNJAB & HARYANA HIGH COURT IN THE CASE OF PRINCIPAL CIT OF INCOME TAX VS. SURINDER KUMAR SINGHAL ITA NO 406- 2016 (O&M) VIDE ORDER DATED 30.1.2017 WHILE FURTHER RELYING UPON THE DECIS ION OF THE HON'BLE ITA NO. 1303/CHD/2017 A.Y. 2009-10 PAGE 2 OF 2 SUPREME COURT IN THE CASE OF CIT VS. DHANALEKSHMI BANK L TD. (2015) 373 ITR 526 (SC), HAS DISMISSED THE APPEAL OF THE REVENUE WITHOUT GOING INTO THE MERITS DUE TO LOW TAX EFFECT LEAVING THE QUESTION OF LAW OPE N. ACCORDINGLY, IN VIEW OF THE ABOVE, THE APPEAL OF THE REVENUE IS DISMISSED O N THE GROUNDS OF LOW TAX EFFECT IN TERMS OF THE AFORESAID CIRCULAR OF THE CBDT BY WHICH THE TAX AUTHORITIES ARE BOUND. THE APPEAL OF THE REVENUE, ACCORD INGLY, IS DISMISSED AS NOT PRESSED. 4. IT IS, HOWEVER, CLARIFIED THAT THE DISMISSAL OF THE ABOVE APPEAL SHALL NO T BE TAKEN TO BE AFFIRMATION OF THE ORDER OF THE CIT(A) ON MERITS . THE LEGAL ISSUE RAISED BY THE REVENUE IS BEING LEFT OPEN TO BE ADJUDICATE D IN AN APPROPRIATE CASE. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. S AID ORDER WAS PRONOUNCED IN THE OPEN COURT AT THE TIME OF HEARING ITSELF. ORDER PRONOUNCED IN THE OPEN COURT ON 08.04.2019. SD/- SD/- ( $ % & ' ( ) ( ! ) (ANNAPURNA GUPTA) (DIVA SINGH) )* #/ ACCOUNTANT MEMBER ' #/ JUDICIAL MEMBER % $ (+ #,-.-# COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT - 2. THE RESPONDENT - 3. $ /# CIT 4. $ /#01 THE CIT(A) 5. -2#45&456789 DR, ITAT, CHANDIGARH 6. 8:% GUARD FILE 7. (+ $ BY ORDER, ; ASSISTANT REGISTRAR