ACIT,Cen. cir-VI, Kolkata, Kolkata V. Sri Binit Agarwal, Kolkata

ITA 145/KOL/2014

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 9172 (ITAT-KOLKATA)
• Duration Of Justice: 3 year(s) 2 month(s) 5 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-03-2017
• Appeal Filed By: Department
• Bench Allotted: B
• Next Hearing Date: 01-11-2016
• Assessment Year: 2010-2011
• Appeal Filed On: 24-01-2014
• Court: TRIBUNAL
• Department Lawyers: DEBASISH BANERJEE
• Assessee Lawyers: K M ROY
• Keywords: Tax effect

Judgement Text

1 ITA NO.1 45/KOL/2014 BINIT AGARWAL, AY 2010-11 IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: KOL KATA [BEFORE SHRI A. T. VARKEY, JM & SHRI WASEEM AHMED, AM] I.TA NO. 145/KOL/2014 ASSESSMENT YEAR: 2010-11 ASSISTANT COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-VI, KOLKATA. VS. SHRI BINIT AGARWAL (PAN:ACYPA5174E) APPELLANT RESPONDENT DATE OF HEARING 07.02.2017 DATE OF PRONOUNCEMENT 29.03.2017 FOR THE APPELLANT SHRI DEBASISH BANERJEE, CIT FOR THE RESPONDENT SHRI K. M. ROY, FCA ORDER PER SHRI A.T.VARKEY, JM THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF LD. CIT(A), CENTRAL-1 KOLKATA DATED 01.11.2013. 2. AT THE TIME OF HEARING, IT IS SEEN THAT THE QUA NTUM INVOLVED IN THIS CASE IS RS.10,97,890/- AND TAX EFFECT ON THE DISPUTED ADDIT ION BEFORE US , WHICH IS LESS THAN RS. 10 LACS. 3. AFTER PERUSING THE MATERIALS AVAILABLE ON RECOR D, WE FIND THAT THE ADDITIONS DISPUTED BEFORE US IS BELOW THE TAX EFFECT LIMIT PR ESCRIBED BY CBDT VIDE CIRCULAR NO. 21 / 2015 DATED 10.12.2015 FOR PREFERRING APPEALS B EFORE TRIBUNAL BY THE REVENUE. ON PERUSAL OF THE CIRCULAR NO. 21 / 2015 DATED 10.12.2 015 AND THE MATERIALS AVAILABLE ON RECORD, LD. DR COULD NOT POINT OUT WHETHER THIS CAS E FALLS UNDER ANY OF THE EXCEPTION AS PROVIDED IN THE CIRCULAR DESPITE SPECIFIC OPPORTUNI TY WAS GIVEN, DOES NOT FALL UNDER ANY OF THE EXCEPTIONS CONTEMPLATED IN THE SAID CIRCULAR , AS THIS IS COVERED. WE ALSO FIND 2 ITA NO.1 45/KOL/2014 BINIT AGARWAL, AY 2010-11 THAT THE CIRCULAR MAKES IT VERY CLEAR THAT THE REVI SED MONETARY LIMITS SHALL APPLY RETROSPECTIVELY TO PENDING APPEALS ALSO. WE FIND TH AT THE CIRCULAR IS BINDING ON THE TAX AUTHORITIES. THIS POSITION HAS BEEN CONFIRMED BY TH E HONBLE APEX COURT IN THE CASE OF COMMISSIONER OF CUSTOMS VS INDIAN OIL CORPORATION L TD REPORTED IN 267 ITR 272 (SC). HENCE, WE HOLD THAT THE APPEAL OF THE REVENUE DESE RVES TO BE DISMISSED IN TERMS OF LOW TAX EFFECT VIDE CIRCULAR NO.21 / 2015 DATED 10.12.2015. ACCORDINGLY, THIS BEING A LOW TAX EFFECT CASE, WE DISMISS THIS APPEAL OF RE VENUE IN LIMINE, AS UNADMITTED, WITHOUT GOING INTO THE MERITS OF THE CASE. 4. IN THE RESULT, APPEAL OF REVENUE IS DISMISSED AS UNADMITTED. ORDER IS PRONOUNCED IN THE OPEN COURT ON 29.03.201 7 SD/- SD/- (WASEEM AHMED) (ABY. T. VARKEY) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED : 29TH MARCH, 2017 JD.(SR.P.S.) COPY OF THE ORDER FORWARDED TO: 1 . APPELLANT ACIT, CC-VI, KOLKATA 2 RESPONDENT SHRI BINIT AGARWAL, 33, BANKIM SARANI, 5 TH FLOOR, KOLKATA- 700 053 3 . THE CIT(A), KOLKATA 4. 5. CIT , KOLKATA DR, KOLKATA BENCHES, KOLKATA / TRUE COPY, BY ORDER, ASSTT. REGISTRAR .