DCIT, CIR-5(1), KOLKATA, Kolkata V. M/s. Pune Properties Pvt. Ltd., Kolkata

ITA 1438/KOL/2016

• Counselvise Citation: [2018] 126 COUNSELVISE.COM (IT) 1861 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 5 month(s) 30 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 04-01-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 05-07-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ARINDAM BHATTACHERJEE
• Assessee Lawyers: N O N E
• Keywords: Tax effect

Judgement Text

1 ITA NO.1438/KOL/2016 PUNE PROPERTIES PVT. LTD., AY: 2010-11 , D , IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH: KOL KATA ( ) BEFORE . . , /AND , ) [BEFORE SHRI A. T. VARKEY, JM & SHRI WASEEM AHMED, AM] I.T.A. NO. 1438/KOL/2016 ASSESSMENT YEAR: 2010-11 DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE-5(1), KOLKATA. VS. M/S. PUNE PROPERTIES PVT. LTD. (PAN: AACCP5080C) APPELLANT RESPONDENT DATE OF HEARING 04.01.2018 DATE OF PRONOUNCEMENT 04.01.2018 FOR THE APPELLANT SHRI ARINDAM BHATTACHERJEE, ADDL. CIT FOR THE RESPONDENT N O N E ORDER PER SHRI A.T.VARKEY, JM THIS APPEAL HAS BEEN FILED BY THE REVENUE AGAINST T HE ORDER OF LD. CIT(A)-2, KOLKATA DATED 12.04.2016 FOR AY 2010-11. 2. NONE APPEARED ON BEHALF OF THE ASSESSEE. AT THE OUTSET, WE FIND THAT THE TAX EFFECT IN THIS CASE IS BELOW RS. 10 LACS. HENCE, DEPARTMENTA L APPEAL SHOULD NOT BE ALLOWED TO BE PROCEEDED WITH. WE FIND THAT THE APPEAL OF THE REV ENUE FALLS IN THE KEN OF THE CBDT CIRCULAR NO. 21/2015 DATED 10.12.2015, WHEREIN THE CBDT HAS DIRECTED THE DEPARTMENT TO WITHDRAW/NOT PRESS THE APPEAL IF THE TAX EFFECT IS LESS THAN RS. 10 LACS BEFORE THE ITAT. ON PERUSAL OF THE CIRCULAR NO. 21 / 2015 DATED 10.12.2 015 AND THE MATERIALS AVAILABLE ON RECORD, WE FIND THAT THE REVENUES CASE DOES NOT FA LL UNDER ANY OF THE EXCEPTION CLAUSE AS PROVIDED IN THE CIRCULAR, AS THIS IS COVERED. WE A LSO FIND THAT THE CIRCULAR MAKES IT VERY CLEAR THAT THE REVISED MONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PENDING APPEALS ALSO. WE FIND THAT THE CIRCULAR IS BINDING ON THE TAX AUT HORITIES. THIS POSITION HAS BEEN CONFIRMED BY THE HONBLE APEX COURT IN THE CASE OF COMMISSIONER OF C USTOMS VS INDIAN OIL CORPORATION LTD REPORTED IN 267 ITR 272 (SC). HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESERVES TO BE DISMISSED IN TERMS OF LOW TA X EFFECT VIDE CIRCULAR NO.21 / 2015 DATED 10.12.2015. ACCORDINGLY, THIS BEING A LOW TAX EFFE CT CASE, WE DISMISS THIS APPEAL OF REVENUE 2 ITA NO.1438/KOL/2016 PUNE PROPERTIES PVT. LTD., AY: 2010-11 IN LIMINE, AS UNADMITTED, WITHOUT GOING INTO THE ME RITS OF THE CASE. IN CASE THE REVENUE LATER FINDS THAT THE TAX EFFECT IS MORE THAN RS. 10 LAKHS THEN IT IS AT LIBERTY TO MOVE APPROPRIATE APPLICATION TO RECALL THIS ORDER. WITH THIS CAVEAT , WE ARE INCLINED TO DISMISS THIS APPEAL OF THE REVENUE ON THE GROUND THAT IT IS BELOW THE TAX EFFECT OF LESS THAN RS.10 LAKH. 3. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISS ED. ORDER IS PRONOUNCED IN THE OPEN COURT. SD/- SD/- (WASEEM AHMED) (ABY. T. VARKEY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 4 TH JANUARY, 2018 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1. APPELLANT DCIT, CIRCLE-5(1), KOLKATA 2 RESPONDENT . M/S. PUNE PROPERTIES PVT. LTD., 7., MANGOE LANE, 1 ST FLOOR, KOLKATA-700 001. 3. THE CIT(A) KOLKATA. 4. 5. CIT KOLKATA DR, ITAT, KOLKATA / TRUE COPY, BY ORDER, SR. PVT. SECRETARY