THE DEPUTY COMMISSIONER OF INCOME TAX-1(1), RAIPUR V. SHRI SUBODH SINGHNIA, RAIPUR (CG)

ITA 134/BIL/2016

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 8565 (ITAT-RAIPUR)
• Duration Of Justice: 5 year(s) 2 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 12-08-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Assessment Year: 2012-2013
• Appeal Filed On: 26-05-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: R K BARAL
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL RAIPUR BENCH, RAIPUR BEFORE SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER & SHRI PAWAN SINGH, JUDICIAL MEMBER ./ I.T.A. NO. 134/RPR/2016) ( [ [ / ASSESSMENT YEAR : 2012-13) DEPUTY COMMISSIONER OF INCOME TAX -1(1), CENTRAL REVENUE BUILDING, CIVIL LINES, RAIPUR (CG) PIN : 492001 / VS. SHRI SUBODH SINGHANIA 5 TH SCHOOL ROAD, CHOUBEY COLONY, RAIPUR (CG) PIN : 492001 ./ ./PAN/GIR NO. : AJJPS4392P ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI R. K. BARAL, DR / RESPONDENT BY : SHRI VEEKAAS S. SHARMA, C.A. / DATE OF HEARING 11/08/2021 / DATE OF PRONOUNCEMENT 12/08/2021 / O R D E R PER PRADIP KUMAR KEDIA - AM: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-I, RAIPUR (CIT(A) IN SHORT), DATED 22.02.2016 ARISING IN THE ASSESSMENT ORDER DATED 29.03.2015 PASSED BY THE ASSESSING OFFICER (AO) UNDER S. 143(3) OF THE INCOME TAX ACT, 1961 (THE ACT) CONCERNING AY 2012-13. ITA NO. 134/RPR/2016 (DCIT VS. SHRI SUBHODH SINGHANIA) A.Y. 2012-13 - 2 - 2. THE SUBSTANTIVE GROUNDS OF APPEAL RAISED BY THE REVENUE READ AS UNDER:- '1. WHETHER IN LAW AND ON FACT & CIRCUMSTANCES OF THE CASE THE LD.CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.15,25,292/- MADE BY THE AO ON ACCOUNT OF INTEREST. 2. WHETHER IN LAW AND ON FACT & CIRCUMSTANCES OF THE CASE THE LD.CIT(A) HAS ERRED IN DELETING THE ADDITION OF RS.1,00,00,000/- MADE BY THE AO ON ACCOUNT OF SOURCE OF GENERATION OF THE INCOME CAN NOT BE VERIFIED IN ABSENCE OF PROPER EXPLANATION. 3. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT THE APPEAL FILED BY THE REVENUE IS HIT BY RECENTLY ISSUED CBDT CIRCULAR NO.17 OF 2019 DATED 08/08/2019 REVISING THE PREVIOUS THRESHOLDS PERTAINING TO TAX EFFECTS. IT IS INTER ALIA NOTICED THAT THE CBDT VIDE INSTRUCTION NO. F. NO. 279/MISC/M-93/2018-ITJ DT. 20/08/2019 HAS OBSERVED THAT CIRCULAR NO.17/2019 DATED 08/08/2019 RELATING TO ENHANCEMENT OF MONETARY LIMITS IS ALSO APPLICABLE TO ALL PENDING APPEALS. AS PER AFORESAID CIRCULAR READ WITH INSTRUCTION, ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A MEASURE FOR REDUCING LITIGATION WHERE THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT RS.50 LAKHS. IN THE INSTANT CASE, THE TAX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EXCEEDING RS.50 LAKHS AND THEREFORE APPEAL OF THE REVENUE IS REQUIRED TO BE DISMISSED IN LIMINE . 4. THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED THE APPLICABILITY OF THE CBDT CIRCULAR NO. 17 OF 2019. ACCORDINGLY, APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. HOWEVER, IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON ITA NO. 134/RPR/2016 (DCIT VS. SHRI SUBHODH SINGHANIA) A.Y. 2012-13 - 3 - SHOWING INAPPLICABILITY OF THE AFORESAID CBDT CIRCULAR IN ANY MANNER. 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. SD/- SD/- (PAWAN SINGH) (PRADIP KUMAR KEDIA) JUDICIAL MEMBER ACCOUNTANT MEMBER RAIPUR: DATED 12/08/2021 TRUE COPY S. K. SINHA / COPY OF ORDER FORWARDED TO:- 1. / REVENUE 2. / ASSESSEE 3. / CONCERNED CIT 4. - / CIT (A) 5. , , / DR, ITAT, RAIPUR 6. [ / GUARD FILE. BY ORDER , SR. PRIVATE SECRETARY ITAT , RAIPUR (ON TOUR) THIS ORDER PRONOUNCED IN OPEN COURT ON 12/08/2021