I.T.O. Ward 1(4), Nagpur V. MR. SAGAR MAROTRAO WARHADE, Nagpur

ITA 144/NAG/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 2154 (ITAT-NAGPUR)
• Duration Of Justice: 1 year(s) 2 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 05-07-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: misc
• Appeal Filed On: 30-04-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: AGNES P THOMAS
• Assessee Lawyers: SURESH DURAGKAR
• Keywords: Tax effect
• Section: 54B

Judgement Text

1 ITA NO. 144/NAG/2015. IN THE INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR BEFORE SHRI SHAMIM YAHYA, ACCOUNTANT MEMBER. (S.M.C.) I.T.A. NO. 144 /NAG/2015. ASSESSMENT YEAR : 200 9 - 10. THE INCOME - TAX OFFICER, MR. SAGAR MAROTRAO WARHADE, WARD - 1(4), NAGPUR. VS. NAGPUR. PAN A AQPW9927N. APPELLANT. RE SPONDENT. APPELLANT BY : SMT. AGNES P. THOMAS RESPONDENT BY : SHRI SURESH DURAGKAR. DATE OF HEARING : 05 - 07 - 2016 DATE OF PRONOUNCEMENT : 5 TH JULY, 2016 O R D E R THIS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(APPEALS) - I, NAGPUR DATED 27 - 02 - 2015 AND PERTAINS TO ASSESSMENT YEAR 200 9 - 10 ALLOWING THE DEDUCTION U/S 54B OF RS.26,40,000/ - DISALLOWED BY THE ASSESSING OFFICER. 2. AT THE THRESHOLD I NOTE THAT AS PER THE CBDT CIRCULAR NO. 21/2015 DATED 10 - 12 - 2015 THE MONETARY LIMIT FIXED FOR FILING APPEALS BY THE DEPARTMENT BEFORE THE INCOME - TAX APPELLATE TRIBUNAL IS HAVING TAX EFFECT OF MORE THAN RS.10,00,000/ - . IT HAS BEEN MENTIONED IN PARA 10 OF T HE ABOVE SAID CIRCULAR THAT THIS INSTRUCTION WILL APPLY RETROSPECTIVELY TO PENDING APPEALS. FURTHER IT HAS BEEN PROVIDED THAT THE PENDING APPEALS BELOW THE SPECIFIED LIMIT MAY BE WITHDRAWN/NOT PRESSED. I FIND THAT IN THIS APPEAL THE TAX EFFECT IS BELOW RS. 10,00,000/ - . 2 ITA NO. 144/NAG/2015. 3. THERE ARE CERTAIN EXCEPTIONS PROVIDED IN THE ABOVE SAID CIRCULAR. LEARNED D.R. DID NOT DISPUTE THAT THIS APPEAL IS BELOW THE ABOVE SAID LIMIT. FURTHER HE COULD NOT POINT OUT ANY FEATURE IN THE PRESENT APPEAL INVITING ANY OF THE EXCEPTIONS I N THE SAID CIRCULAR. 4. IN THE LIGHT OF THE ABOVE OBSERVATIONS, THIS APPEAL BY THE REVENUE STANDS DISMISSED IN LIMINE ON ACCOUNT OF TAX EFFECT. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 5 TH DAY OF JULY,2016. SD/ - ( SHAMIM YAHYA) ACCOUNTANT MEMBER. NAGPUR, DATED: 5 TH JULY, 2016. COPY FORWARDED TO : 1. MR. SAGAR MAROTRAO WARHADE, PLOT NO. 1, SOUTH AMBAZARI ROAD, GOPAL NAGAR, NAGPUR. 2. I.T.O., WARD - 1(4), NAGPUR. 3. C.I.T. - I.NAGPUR. 4. CIT(APPEALS), - I, NAGPUR. 5. D.R., ITAT, NAGPUR. 6. GUARD FILE TRUE COPY BY ORDER ASSISTANT REGIS TRAR, INCOME TAX APPELLATE TRIBUNAL, NAGPUR BENCH, NAGPUR. WAKODE.