ITO, Ward-32(2), Kolkata, Kolkata V. M/S. National Coal Development Corporation Staff Co-Operative Credit Society Ltd., Kolkata

ITA 1532/KOL/2014

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 9226 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 8 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-03-2017
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2008-2009
• Appeal Filed On: 16-07-2014
• Court: TRIBUNAL
• Department Lawyers: SALLONG YADEN ADDITI ONAL
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 1532/KOL./2014 ASSESSMENT YEAR: 2008-2009 & I.T.A. NO. 15 33/KOL./2014 ASSESSMENT YEAR: 2010-2011 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER I.T.A. NO. 1532/KOL/ 2014 ASSESSMENT YEAR: 2008-2009 & I.T.A. NO. 1533/KOL/ 2014 ASSESSMENT YEAR: 2010-2011 INCOME TAX OFFICER,................................ ...................................APPELLANT WARD-32(2), KOLKATA, 10B, MIDDLETON ROW, 2 ND FLOOR, KOLKATA-700 071 -VS.- M/S. NATIONAL COAL DEVELOPMENT CORPORATION......... ...............RESPONDENT STAFF COOPERATIVE CREDIT SOCIETY LIMITED, 25, BRABOURNE ROAD, THAPAR HOUSE, 5 TH FLOOR, KOLKATA-700 001 [PAN: AAALN 0409 N] APPEARANCES BY: SHRI SALLONG YADEN, ADDITIONAL CIT (D.R), FOR THE DEPARTMENT SHRI SUBASH AGARWAL, ADVOCATE, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : MARCH 16, 2017 DATE OF PRONOUNCING THE ORDER : MARCH 16, 2017 O R D E R PER SHRI P.M. JAGTAP, A.M. : OUT OF THESE TWO APPEALS FILED BY THE REVENUE, ONE APPEAL BEING ITA NO. 1532/KOL/2014 IS DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-XIX, KOLKATA DATED 08.04.20 14, WHEREBY HE CANCELLED THE PENALTY OF RS.9,24,110/- IMPOSED BY T HE ASSESSING OFFICER UNDER SECTION 271(1)(C) OF THE ACT FOR THE ASSESSME NT YEAR 2008-09, WHILE THE OTHER APPEAL FILED BY THE REVENUE BEING ITA NO. 1533/KOL/2014 IS I.T.A. NO. 1532/KOL./2014 ASSESSMENT YEAR: 2008-2009 & I.T.A. NO. 15 33/KOL./2014 ASSESSMENT YEAR: 2010-2011 PAGE 2 OF 3 DIRECTED AGAINST THE ORDER OF THE LD. COMMISSIONER OF INCOME TAX (APPEALS)-XIX, KOLKATA DATED 07.04.2014, WHEREBY HE ALLOWED A RELIEF OF RS.11,68,729/- TO THE ASSESSEE FOR THE ASSESSMENT Y EAR 2010-11. 2 AS POINTED OUT BY THE LD. COUNSEL FOR THE ASSESSE E AT THE OUTSET, THE TAX EFFECT INVOLVED IN THESE APPEALS OF THE REVENUE IS LESS THAN THE REVISED MONETARY LIMIT FIXED BY THE CBDT VIDE CIRCU LAR NO. 21/2015 DATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE AP PEAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEAR LY EVIDENT FROM THE GROUNDS RAISED BY THE REVENUE IN THESE APPEALS IS N OT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 (SUPRA) ISSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEAL BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFI ED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVE LY EVEN TO THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INST RUCTED THAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF R S.10,00,000/- MAY BE WITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUC TION GIVEN BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WH ICH IS SQUARELY APPLICABLE IN THE PRESENT CASES, THE APPEALS FILED BY THE REVENUE IN THIS CASE ARE TREATED AS WITHDRAWN/NOT PRESSED AND DISMI SSED ACCORDINGLY. 3. IN THE RESULT, BOTH THE APPEALS OF THE REVENUE A RE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON MARCH 16, 201 7. SD/- SD/- (S.S. VISWANETHRA RAVI) (P.M. JAGTAP) JUDICIAL MEMBER ACCOUNTANT ME MBER KOLKATA, THE 16 TH DAY OF MARCH, 2017 COPIES TO : (1) INCOME TAX OFFICER, WARD-32(2), KOLKATA, 10B, MIDDLETON ROW, 2 ND FLOOR, KOLKATA-700 071 I.T.A. NO. 1532/KOL./2014 ASSESSMENT YEAR: 2008-2009 & I.T.A. NO. 15 33/KOL./2014 ASSESSMENT YEAR: 2010-2011 PAGE 3 OF 3 (2) M/S. NATIONAL COAL DEVELOPMENT CORPORATION STAFF COOPERATIVE CREDIT SOCIETY LIMITED, 25, BRABOURNE ROAD, THAPAR HOUSE, 5 TH FLOOR, KOLKATA-700 001 (3) COMMISSIONER OF INCOME TAX (APPEALS)-XIX, KOLK ATA; (4) COMMISSIONER OF INCOME TAX- , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE TRUE COPY BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.