ACIT, Coimbatore V. R.Sivagami, Salem

ITA 149/CHNY/2017

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 4699 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 10 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-04-2017
• Appeal Filed By: Department
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 18-01-2017
• Court: TRIBUNAL
• Department Lawyers: M M BHUSARI
• Assessee Lawyers: K RAGHU
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH: CHENNAI . . . , '.. % , * BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI D.S.SUNDER SINGH, ACCOUNTANT MEMBER ./ ITA NOS.149 TO152/MDS/2017 + + /ASSESSMENT YEARS: 2009-10 TO 2012-13 THE ASST. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-2, INCOME TAX BUILDING, RACE COURSE ROAD, COIMBATORE-641 018. VS. SMT. R.SIVAGAMI, 272, KAMARAJANAR ROAD, ATTUR TALUK, SALEM-636 102 [PAN: A XYPS 7812 F ] ( . /APPELLANT) ( /0. /RESPONDENT) . 1 / APPELLANT BY : MR.M.M.BHUSARI, CIT /0. 1 /RESPONDENT BY : MR.K. RAGHU, CA 1 /DATE OF HEARING : 27.04.2017 1 /DATE OF PRONOUNCEMENT : 28.04.2017 / O R D E R PER D.S.SUNDER SINGH , ACCOUNTANT MEMBER : THESE APPEALS ARE FILED BY THE REVENUE AGAINST THE ORDERS DATED 21.10.2016 OF COMMISSIONER OF INCOME TAX (APPEALS)- 18, CHENNAI, IN ITA NO.63 TO 66/15-16 FOR THE AYS 2009-10, 2010-11, 201 1-12 & 2012-13. ITA NOS.149 TO 152/MDS/2017 :-2-: 2.0 DELAY: THE REVENUE FILED APPEALS WITH DELAY OF THREE DAYS AND THE LD.AO FILED THE CONDONATION PETITION EXPLAINING THE REASO N FOR DELAY. WE HEARD BOTH THE PARTIES AND CONDONED THE DELAY. 3.0 THE ASSESSEE MADE INVESTMENTS IN SHARES AND SECURI TIES AND RECEIVED THE DIVIDEND INCOME WHICH WAS CLAIMED AS E XEMPTION. THE ASSESSING OFFICER DISALLOWED THE EXPENDITURE RELATI NG TO THE DIVIDEND INCOME U/S.14A R/W RULE 8D OF INCOME TAX RULES FOR THE AYS AS PER THE DETAILS GIVEN BELOW: CASE NO. AY DISALLOWANCE MADE (IN RS.) ITA NO.149/MDS/2017 2009-10 62,758 ITA NO.150/MDS/2017 2010-11 70,928 ITA NO.151/MDS/2017 2011-12 71,305 ITA NO.152/MDS/2017 2012-13 74,558 ON HEARING FROM THE LD.DEPARTMENTAL REPRESENTATIVE , WE FIND THAT THE TAX EFFECT IN THE ABOVE APPEALS ARE LESS THAN R S.10 LAKHS. THE CBDT IN CIRCULAR NO.21/2015 DATED 10.12.2015 INCREASED T HE MONETARY LIMIT FOR FILING APPEAL BEFORE THIS TRIBUNAL FROM RS.4 LAKHS TO RS.10 LAKHS. THE CBDT FURTHER CLARIFIED THAT THE INSTRUCTION DATED 1 0.12.2015 WILL APPLY RETROSPECTIVELY TO ALL THE PENDING APPEALS BEFORE T HIS TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED ITS OFFICERS TO WITHDRAW THE AP PEALS PENDING BEFORE THIS TRIBUNAL. IN VIEW OF THE ABOVE, THIS TRIBUNAL IS O F THE CONSIDERED OPINION THAT THE CIRCULAR ISSUED BY THE CBDT ON 10.12.2015 IS BINDING ON THE ITA NOS.149 TO 152/MDS/2017 :-3-: DEPARTMENT. THEREFORE, THE APPEAL FILED BY THE REV ENUE IS NOT MAINTAINABLE. ACCORDINGLY, THE APPEAL OF THE REVEN UE IS DISMISSED. 4.0 IN THE RESULT, THE ABOVE FOUR APPEALS OF THE REVEN UE FOR THE AYS 2009-10, 2010-11, 2011-12 & 2012-13 ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 28 TH APRIL, 2017, AT CHENNAI. SD/- ( ... ) (N.R.S. GANESAN) /JUDICIAL MEMBER SD/- ( ' . . % ) (D.S.SUNDER SINGH) /ACCOUNTANT MEMBER /CHENNAI, 6 /DATED: 28 TH APRIL, 2017. TLN 1 /%7 87 /COPY TO: 1. . /APPELLANT 4. 9 /CIT 2. /0. /RESPONDENT 5. 7 / /DR 3. 9 ( ) /CIT(A) 6. + /GF