ITO, Ward-32(3), Kolkata, Kolkata V. Shri Jayantilal Thakorlal Mehta, Kolkata

ITA 1535/KOL/2014

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 9127 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 8 month(s) 14 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-03-2017
• Appeal Filed By: Assessee
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 16-07-2014
• Court: TRIBUNAL
• Department Lawyers: MD GHAYAS UDDIN
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 1535/KOL./2014 ASSESSMENT YEAR: 2010-2011 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA B(SMC) BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER I.T.A. NO. 1535/KOL/ 2014 ASSESSMENT YEAR: 2010-2011 INCOME TAX OFFICER,................................ ..................................APPELLANT WARD-32(3), KOLKATA, 10B, MIDDLETON ROW, 2 ND FLOOR, KOLKATA-700 071 -VS.- JAYANTILAL THAKORLAL MEHTA,........................ .........................RESPONDENT 13, NATIONAL COURT, LOUDON STREET, KOLKATA-700 017 [PAN: AITPM 8723 H] APPEARANCES BY: MD. GHAYAS UDDIN, JCIT, SR. D.R, FOR THE DEPARTMENT SHRI SUJOY SEN, ADVOCATE, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : MARCH 30, 2017 DATE OF PRONOUNCING THE ORDER : MARCH 30, 2017 O R D E R THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-XIX, KOLKATA D ATED 29.04.2014 FOR THE ASSESSMENT YEAR 2010-11, WHEREBY HE ALLOWED THE CLAIM OF THE ASSESSEE FOR SET OFF OF THE CARRIED FORWARD LOSSES OF RS.15,61,762/- FOR THE ASSESSMENT YEAR 2008-09 AGAINST THE INCOME FOR THE YEAR UNDER CONSIDERATION. 2 AS POINTED OUT BY THE LD. COUNSEL FOR THE ASSESSE E AT THE OUTSET, THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE I S LESS THAN THE REVISED MONETARY LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE APP EAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEARLY EVIDE NT FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTE D 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 TRI BUNAL HAS BEEN I.T.A. NO. 1535/KOL./2014 ASSESSMENT YEAR: 2010-2011 PAGE 2 OF 2 INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVELY EVEN T O THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED T HAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.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 CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMIS SED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON MARCH 30, 201 7. SD/- (P.M. JAGTAP) ACCOUNTANT MEMBER KOLKATA, THE 30 TH DAY OF MARCH, 2017 COPIES TO : (1) INCOME TAX OFFICER, WARD-32(3), KOLKATA, 10B, MIDDLETON ROW, 2 ND FLOOR, KOLKATA-700 071 (2) JAYANTILAL THAKORLAL MEHTA, 13, NATIONAL COURT, LOUDON STREET, KOLKATA-700 017 (3) COMMISSIONER OF INCOME TAX(APPEALS)-XIX, KOLKA TA; (4) COMMISSIONER OF INCOME TAX- , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER ASSISTANT REGISTRAR, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.