A.C.I.T Cir - 43,kolkata, Kolkata V. M/s Tirupati Projects, Kolkata

ITA 1417/KOL/2013

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 5044 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 9 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-03-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2007-2008
• Appeal Filed On: 21-05-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: RAJAT KUMAR KUREEL
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCH C, KOLKATA [BEFORE SHRI P.M.JAGTAP, AM & SHRI S.S.VISWANETHRA RAVI, JM ] ITA NO. 1417/KOL/2013 : ASSESSMENT YEAR : 2007 -08 ACIT, CIRCLE-43, KOLKATA VS M/S. TIRUPATI PROJECTS PAN : AACFT9629C (APPELLANT) (RESPONDENT) FOR THE DEPARTMENT : SHRI RAJAT KUMAR KUREEL, J CIT FOR THE ASSESSEE : NONE DATE OF HEARING : 07.03.2016 DATE OF PRONOUNCEMENT : 07.03.2016 ORDER PER SHRI S.S.VISWANETHRA RAVI, JM THIS APPEAL PREFERRED BY THE REVENUE IS DIRECTED AG AINST THE ORDER DATED 24.12.2012 PASSED BY THE CIT(APPEALS)-X XX, KOLKATA IN APPEAL NO.539/CIT(A)-XXX/CIR-43/2009-10 FOR THE ASSESSMENT YEAR 2007-08 FRAMED UNDER SECTION 143(3) OF THE I.T .ACT. 2. AS POINTED OUT BY THE LD. COUNSEL FOR THE ASSES SEE, AT THE OUTSET, THE TAX EFFECT INVOLVED IN THESE APPEAL OF THE REVENUE IS LESS THAN THE REVISED MONETARY LIMIT RECENTLY FIXED BY THE CBDT VIDE CIRCULAR NO.21/2015 DATED 10TH DECEMBER,2015 A T 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. ITA NO. 1417/KOL/2013 M/S. TIRUPATI PROJECTS 2 IN CIRCULAR NO. 21/2015 (SUPRA) RECENTLY ISSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENU E BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND A S CLARIFIED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS APPLI CABLE RETROSPECTIVELY EVEN TO THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED THAT SUCH PENDING APPE ALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00,000/- MAY BE W ITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUCTION GIVEN BY T HE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WHICH IS SQU ARELY APPLICABLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND D ISMISSED ACCORDINGLY. 3. IN THE RESULT, APPEAL OF THE DEPARTMENT IS DISMI SSED. ORDER PRONOUNCED IN THE OPEN COURT ON 07.03.2016 SD/- SD/- (P.M.JAGTAP) (S.S.VISWANETHRA RAVI) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 07 /03/2016 TALUKDAR (SR.PS) COPY OF THE ORDER FORWARDED TO: 1. M/S. TIRUPATI PROJECTS, 176, M.G. ROAD, KOLKATA 700 007.. 2 ACIT, CIRCLE-=43, KOLKATA 3. THE CIT-I, KOLKATA, 4. THE C IT(A)-I, KOLKATA. 5. DR, KOLKATA BENCHES, KOLKATA TRUE COPY, BY ORDER, ASST. REGISTRAR , ITAT, KOLKATA BENCHES ITA NO. 1417/KOL/2013 M/S. TIRUPATI PROJECTS 3