Income-tax Officer, Nashik V. Salim Ismail Shaikh, Nashik

ITA 1394/PUN/2017

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 0051 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 3 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Next Hearing Date: 17-09-2018
• Assessment Year: 2009-2010
• Appeal Filed On: 01-06-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

- IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH SMC, PUNE , BEFORE SHRI VIKAS AWASTHY, JM / ITA NO.1394/PUN/2017 ! ' #' / ASSESSMENT YEAR : 2009-10 THE INCOME TAX OFFICER, WARD- 2(1), NASHIK. ....... / APPELLANT $! / V/S. SHRI SALIM ISMAIL SHAIKH PLOT NO.28, GAT NO.486, A/1, SHRIKRUSHNA NAGAR, SATPUR COLONY, NASHIK-422 007 PAN : APIPS0584G / RESPONDENT REVENUE BY : SHRI SUDHENDU DAS ASSESSEE BY : SHRI PRAMOD SHINGTE / DATE OF HEARING : 17.09.2018 / DATE OF PRONOUNCEMENT : 17.09.2018 % / ORDER PER VIKAS AWASTHY, JM THE APPEAL HAS BEEN FILED BY THE REVENUE AGAINST THE OR DER OF COMMISSIONER OF INCOME TAX (APPEAL)-2, NASHIK DATED 09.03.20 17 FOR THE ASSESSMENT YEAR 2009-10. 2 ITA NO.1394/PUN/2017 A.Y.2009-10 2. SHRI PRAMOD SHINGTE APPEARING ON BEHALF OF THE ASSESSE E SUBMITTED AT THE OUTSET THAT THE APPEAL OF THE REVENUE IS LIABLE TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT IN TERMS OF RECENT CBDT CIRCULAR NO.3/2018 , DATED 11.07.2018. THE LD. COUNSEL FOR THE ASSESSEE HAS FURNISHED WORKING OF TAX EFFECT INVOLVED IN THE APPEAL. 3. SHRI SUDHENDU DAS REPRESENTING THE DEPARTMENT FAIRLY ADMITTED THAT IN THE PRESENT APPEAL BY THE DEPARTMENT TAX EFFECT IS LESS THAN RS.20 L AKHS. 4. BOTH SIDES HEARD. THE REVENUE IS IN APPEAL AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX(APPEAL) IN DELETING THE ADDITION OF RS.35,00,000/- MADE BY THE ASSESSING OFFICER ON ACCOUNT O F PLOT SALE RECEIPTS. UNDISPUTEDLY, THE TAX EFFECT INVOLVED IN APPEAL IS LESS THAN THE MONETARY LIMIT PRESCRIBED BY THE RECENT CBDT CIRCULAR FOR FILING OF APPEALS BEFORE THE TRIBUNAL BY THE DEPARTMENT. THE CBDT VIDE CIRC ULAR NO.3/2018, DATED 11.07.2018 HAS RAISED THE MONETARY LIMIT OF TAX EFFECT FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL TO RS.20 LAKHS. THE CIRCULAR APPLIES TO THE APPEALS TO BE FILED BY THE DEPARTMENT IN FUT URE AS WELL AS THE APPEALS PENDING BEFORE THE TRIBUNAL. WITHOUT GOING INTO MERIT OF THE ISSUES RAISED IN THE APPEAL, IN VIEW OF THE CBDT CIRCULAR THE PRE SENT APPEAL OF THE REVENUE IS DISMISSED ON ACCOUNT OF LOW TAX EFFECT. 5. BEFORE PARTING, IT IS CLARIFIED THAT THE REVENUE SHALL BE A T LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF APPEAL, WITH THE R EQUISITE MATERIAL TO SHOW THAT THE APPEAL IS PROTECTED BY THE EXCEPTIONS PR ESCRIBED IN PARA 10 OF THE CIRCULAR (SUPRA.) 3 ITA NO.1394/PUN/2017 A.Y.2009-10 6. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON MONDAY, THE 17 TH DAY OF SEPTEMBER, 2018. SD/- ( /VIKAS AWASTHY) / JUDICIAL MEMBER / PUNE; !' / DATED : 17 TH SEPTEMBER, 2018 SB %&'()*#( / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. THE CIT(APPEAL)-2, NASHIK. 4. THE PR. CIT-2, NASHIK. 5. %&' () , * () , - +,- , / DR, ITAT, SMC BENCH, PUNE. 6. './ 01 / GUARD FILE. // TRUE COPY // * 2 / BY ORDER, 3 (- / PRIVATE SECRETARY * () , / ITAT, PUNE.