The ACIT,Bharuch Circle, Bharuch V. M/s. Narayan Land Estate, Bharuch

ITA 1555/AHD/2014

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 8868 (ITAT-SURAT)
• Duration Of Justice: 5 year(s) 1 month(s) 15 day(s)
• Appeal Type: Income Tax (Transfer Pricing) Appeal
• Pronouncement Date: 01-07-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: DB
• Next Hearing Date: 14-06-2017
• Assessment Year: 2010-2011
• Appeal Filed On: 16-05-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: ABHIMANYU SINGH BHATI
• Keywords: Tax effect

Judgement Text

ACIT, BHARUCH CIRCLE, BHARUCH VS. NARAYAN LAND ESTATE /ITA NO.1555/AHD/2014 PAGE 1 OF 2 , , IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI BHAVNESH SAINI, JUDICIAL MEMBER AND SHRI O.P.MEENA, ACCOUNTANT MEMBER . . ./ I.T.A.NO.1555/AHD/2014 [ [ / ASSESSMENT YEAR : 2010-11 ASSISTANT COMMISSIONER OF INCOME TAX, BHARUCH CIRCLE, BHARUCH. VS. M/S.NARAYAN LAND ESTATE, NARAYAN CHAMBERS, B/H INDIAN OIL PETROL PUMP STATION ROAD, BHARUCH 392 001. [PAN: AACFN 0406 B] APPELLANT /RESPONDENT [ /ASSESSEE BY: SHRI ABHIMANYU SINGH BHATI AND SHRI UMAID SINGH BHATI ADVOCATE /REVENUE BY: SHRI PRASOON KABRA - SR. DR / DATE OF HEARING: 13 .0 5 .2019 /PRONOUNCEMENT ON: 1 3 .0 5 .2019 /O R D E R PER BHAVNESH SAINI, JM: 1. THIS APPEAL BY THE REVENUE HAS BEEN DIRECTED AGAINST THE ORDER OF LEARNED COMMISSIONER OF INCOME TAX (APPEALS)-VI, BARODA DATED 14.02.2014 FOR ASSESSMENT YEAR 2010-11 CHALLENGING THE DELETION OF ADDITION OFRS.50,98,729/- U/S.80IB(10) OF THE INCOME TAX ACT. 2. ADMITTEDLY, THE TAX EFFECT IN THE DEPARTMENTAL APPEAL IS BELOW RS.20 LAKHS. ACCORDING TO CBDT CIRCULAR NO.3 OF 2018 DATE 11.07.2018 IT WAS DIRECTED THAT DEPARTMENTAL APPEAL HENCEFORTH SHALL NOT BE FILED BEFORE APPELLATE TRIBUNAL IF THE TAX EFFECT DOES NOT EXCEED MONETARY LIMIT ACIT, BHARUCH CIRCLE, BHARUCH VS. NARAYAN LAND ESTATE /ITA NO.1555/AHD/2014 PAGE 2 OF 2 OF RS.20 LAKHS. THE APPEALS ALREADY FILED SHALL NOT BE PRESSED OR WITHDRAWN BY THE DEPARTMENT. THE BOARD CIRCULAR IS APPLICABLE RETROSPECTIVELY. 3. IN VIEW OF THE ABOVE BOARD CIRCULAR, LEARNED DEPARTMENTAL REPRESENTATIVE DID NOT PRESS THE DEPARTMENTAL APPEAL. SINCE, DEPARTMENTAL APPEAL HAS BEEN FILED IN VIOLATION OF ABOVE BOARD CIRCULAR, THEREFORE DEPARTMENTAL APPEAL IS DISMISSED AS NOT PRESSED. 4. IN THE RESULT, DEPARTMENTAL APPEAL IS DISMISSED. 5. THE ORDER PRONOUNCED IN THE OPEN COURT 13-05-2019. SD/- SD/- (O.P.MEENA) (BHAVNESH SAINI) ( /ACCOUNTANT MEMBER) ( /JUDICIAL MEMBER) / SURAT, DATED : 13 TH MAY , 2019/ S.GANGADHARA RAO, SR.PS COPY OF ORDER SENT TO- ASSESSEE/AO/PR. CIT/ CIT (A)/ ITAT (DR)/GUARD FILE OF ITAT. BY ORDER / / TRUE COPY / / ASSISTANT REGISTRAR, SURAT