Deputy Commissioner of Income Tax Circle-2(1), Bangalore V. M/s Srinivasa trust , Bangalore

ITA 1470/BANG/2018

• Counselvise Citation: [2020] 110 COUNSELVISE.COM (IT) 9241 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 3 month(s) 6 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-08-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 13-08-2020
• Assessment Year: 2007-2008
• Appeal Filed On: 07-05-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: V CHANDRASHEKAR
• Keywords: Tax effect
• Section: 13

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL BANGALORE BENCHES A BENCH: BANGALORE BEFORE SHRI B.R. BASKARAN, ACCOUNTANT MEMBER AND SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER ITA NO S . 1470, 1471,1472, 1474 & 1476 /BANG/201 8 (ASSESSMENT YEAR S : 20 0 7 - 08 ; 2008 - 09; 2009 - 10; 2011 - 12 & 2013 - 14 ) DY. COMMISSIONER OF INCOME TAX, CIRCLE 2(1), BANGLAORE. .APPELLANT VS. M/ S. SRINIVASA TRUST, NO.7/21, 1 ST CROSS, 4 TH MAIN, RMV EXTENSION, BANGA LORE - 560 0 80 RESPONDENT. PAN AABTS 8147B ASSESSEE BY: SHRI V.CHANDRASHEKAR , ADVOCATE. REVENUE BY: MS. NEERA MALHOTRA, CIT (D.R) DATE OF HEARING : 13.08 .20 20. DATE OF PRO NOUNCEMENT : 13 .0 8 .20 20. O R D E R PER BENCH : THE REVENUE HAS FILED THESE APPEAL S AGAINST THE SEPARATE ORDER S OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS) - 1 1, BANGALORE D T.27.04.2015. 2. AT THE TIME OF HEARING, IT WAS BROUGH T TO THE KNOWLEDGE OF THE BENCH THAT THE TAX EFFECT IN THE SE APPEAL S ARE BELOW RS.50 LAKHS, THEREFORE COVERED BY CBDT C IRCULAR NO.17/2019 D T.8.8.2019. WE FIND AS PER THE CBDT CIRCULAR NO. 17/ 2019 2 ITA NO. 1470, 1471, 1472, 1474 & 1476/BANG/2018 D T.8.8.2019 , NO APPEAL SHALL BE FILED BY THE REVENUE BEFORE TH E TRIBUNAL WHERE THE TAX EFFECT IS BELOW RS .50 LAKHS. IN THE PRESENT CASE, TH E ASSESSING OFFICER HAS RAISED T AX DEMAND VIDE ORDER DT. 30.03.2015 FOR THE A.YS AS UNDER: SL.NO. ASSESSMENT YEAR TAX EXCLUDING INTEREST 1. 2007 - 08 RS.46,88,277 2. 2008 - 09 RS.11, 76,054 3. 2009 - 10 RS.9,97,040 4. 2011 - 12 RS.43,22,196 5. 2013 - 14 RS.22,31,824 THE LDDR HAS ACCEPTED THE LOW TAX EFFECT IN THE SE APPEALS . FURTHER THE CIRCULAR OF THE CBDT IS A PPLICABLE TO THE PENDING CASES. SINCE, THE TAX DEMAND RAISED BY THE REVENUE AUTHORITY IS BELOW RS.50 LAKHS IN EACH APPEAL AND THE CIRCULAR IS ALSO APPLICABLE TO THE PENDING APPEALS. THE PRESENT APPEALS ARE LIABLE TO BE DISMISSED ON LOW TAX EFFECT . UNDER THESE SET OF FACTS, THE REVENUE IS GIVEN LIBERTY TO MOVE APPROPRIATE APPLICATI ON FOR RECALL OF THE PRESENT ORDER IN ACCORDANCE WITH THE LAW, IF IT IS SUBSEQUENTLY FOUND THAT THE ISSUE CONTESTED IN THE THESE APPEALS ARE COVERED BY ANY OF THE EXCEPTIONS IN THE CBDT CIRCULAR.ACCORDINGLY, WE DISMISS THE REVENUES APPEAL S ON MAINTAINABIL ITY AND LOW TAX EFFECT. 3. IN THE RESULT, APPEAL S OF THE REVENUE ARE DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/ - SD/ - ( B.R. B ASKARAN ) (PAVAN KUMAR GADALE) ACCOUNTANT MEMBER JUDICIAL MEMBER DATED: 13 .08 . 20 20 . *REDDY GP 3 ITA NO. 1470, 1471, 1472, 1474 & 1476/BANG/2018 COPY TO 1. THE APPELLANT 2. THE RESPONDENT 3. CIT (A) 4. PR. CIT 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR INCOME - TAX APPELLATE TRIBUNAL BANGALORE