ACIT, New Delhi V. M/s. Paramount Residency Pvt. Ltd., Noida

ITA 1395/DEL/2016

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 6824 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 7 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-10-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: H
• Assessment Year: 2005-2006
• Appeal Filed On: 11-03-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: NIDHI SRIVASTAVA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: B NEW DELHI BEFORE SHRI R.K. PANDA, ACCOUNTANT MEMBER & SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA NO. 1395/DEL/2016 ASSESSMENT YEAR: 2005-06 ACIT CENTRAL CIRCLE-27, ROOM NO. 327, 3 RD FLOOR, ARA CENTRE, E-2, JHANDEWALAN EXTN., NEW DELHI. VS PARAMOUNT RESIDENCY P. LTD. H-123, SECTOR-63, NOIDA. PAN NO. AADCP5228P APPELLANT RESPONDENT REVENUE BY MS. NIDHI SRIVASTAVA, CIT-DR ASSESSEE BY SHRI DEEPESH GARG, ADVOCATE ORDER PER SHRI R.K. PANDA, A.M. THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAIN ST THE ORDER DATED 31.12.2015 OF THE LD. CIT(APPEALS)-25, NEW DE LHI RELATING TO AY 2005-06. 2. THE LD. COUNSEL FOR THE ASSESSEE, AT THE OUTSET, SUBMITTED THAT THE TAX EFFECT INVOLVED IN THE GROUNDS RAISED BY THE REVENUE IS BELOW RS. 50 LAKHS. THEREFORE, IN VIEW OF THE CBDT CIRCULAR NO. DATE OF HEARING 21.10.2019 DATE OF PRONOUNCEMENT 21.10.2019 2 ITA NO . 1395/DEL/2016 17/2019 DATED 8 TH AUGUST, 2019, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. 3. THE LD. DR FAIRLY CONCEDED THAT THE TAX EFFECT I NVOLVED IN THE GROUNDS RAISED BY THE REVENUE IS BELOW RS. 50 LAKHS . 4. WE HAVE CONSIDERED THE RIVAL ARGUMENTS MADE BY B OTH THE SIDES. ADMITTEDLY, THE TAX EFFECT INVOLVED IN THE GROUNDS RAISED BY THE REVENUE IS BELOW RS. 50 LAKHS. THEREFORE, IN V IEW OF CBDT CIRCULAR NO. 17/2019 DATED 8 TH AUGUST, 2019 RAISING THE MONETARY LIMIT FOR FILING OF APPEALS BY THE REVENUE BEFORE T HE TRIBUNAL TO RS. 50 LAKHS THE APPEAL FILED BY THE REVENUE IS NOT MAI NTAINABLE. IT HAS FURTHER BEEN CLARIFIED BY THE CBDT VIDE NOTIFIC ATION DATED 20 TH AUGUST, 2019 THAT THE SAID CIRCULAR IS APPLICABLE T O PENDING APPEALS ALSO. SINCE, THE TAX EFFECT INVOLVED IN TH E GROUNDS RAISED BY THE REVENUE IS ADMITTEDLY BELOW RS. 50 LAKHS, TH EREFORE, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE IN VIEW OF THE CBDT CIRCULAR CITED (SUPRA). ACCORDINGLY, THE SAME IS DISMISSED. 5. IN THE RESULT, THE APPEAL FILED BY THE REVENUE I S DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AT THE TIME OF H EARING ITSELF I.E. ON 21.10.2019. SD/- SD/- (SUDHANSHU SRIVASTAVA) (R.K. PAND A) JUDICIAL MEMBER ACCOUNTANT MEMBER DATED: 21/10/2019 *KAVITA ARORA 3 ITA NO . 1395/DEL/2016 COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT TRUE COPY ASSISTANT REGISTRAR ITAT NEW DELHI DATE OF DICTATION 21.10.2019 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 21.10.2019 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P S/PS 22.10.2019 DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT 21.10.2019 DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS 22.10.2019 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WE BSITE OF ITAT 22.10.2019 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 22.1 0.2019 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER 4 ITA NO . 1395/DEL/2016