Assistant Commissioner of Income-tax, V. Shri Arjun Dada Kharate, Nashik

ITA 1583/PUN/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 1629 (ITAT-PUNE)
• Duration Of Justice: 6 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-06-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2009-2010
• Appeal Filed On: 03-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HITENDRA NINAWE
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

- IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH SMC, PUNE , BEFORE MS. SUSHMA CHOWLA, JM / ITA NO.1583/PN/2015 ! ' ' / ASSESSMENT YEAR : 2009-10 THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE 1, NASHIK . / APPELLANT VS. SHRI ARJUN DADA KHARATE, H.NO.894/3, GANDHARWADI, NEAR FOREST NURSERY CANAL, MAKHAMALABAD, NASHIK . RESPONDENT PAN: BCMPK8087Q / APPELLANT BY : SHRI HITENDRA NINAWE / RESPONDENT BY : WRITTEN SUBMISSION DATE OF HEARING : 30.06.2016 / DATE OF PRONOUNCEMENT: 30.06.2016 # / ORDER PER SUSHMA CHOWLA, JM: THIS APPEAL FILED BY THE REVENUE IS AGAINST THE ORD ER OF CIT(A)-1, NASHIK, DATED 14.09.2015 RELATING TO ASSESSMENT YEA R 2009-10 AGAINST ORDER PASSED UNDER SECTION 143(3) R.W.S. 147 OF THE INCOM E-TAX ACT, 1961 (IN SHORT THE ACT). 2. ON THE PERUSAL OF RECORD, IT IS APPARENT THAT TH E ADDITION MADE BY THE ASSESSING OFFICER WAS IN RESPECT OF COMPUTATION OF LONG TERM CAPITAL GAINS ITA NO.1583/PN/2015 2 UNDER WHICH THE ADDITION WORKED OUT TO RS.42,63,889 /-. AS PER THE PROVISIONS OF THE ACT, THE TAX PAYABLE ON RS.42,63,889/- IS 20% I .E. RS.8,52,700/-. THE ASSESSEE VIDE HIS LETTER DATED 30.06.2016 HAS POINT ED OUT THAT THE TAX EFFECT IN THE PRESENT APPEAL IS LESS THAN RS.10 LAKHS AND HEN CE THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE. THE LD. DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE HAS FAIRLY ADMITTED THAT THE TAX EFFECT IN THE PRESENT APPEAL IS BELOW RS.10 LAKHS. IN VIEW OF THE CBDTS CIRCULAR NO.21/ 2015 DATED 10.12.2015, THE LIMIT FOR FILING THE APPEALS BEFORE THE TRIBUNAL HA VE BEEN REVISED AND ONLY APPEALS WITH TAX EFFECT OF RS.10 LAKHS ARE TO BE FI LED BEFORE THE TRIBUNAL. THIS ALSO APPLIES TO PENDING APPEALS BEFORE THE TRIBUNAL . IN VIEW THEREOF, THE APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT BEING MAIN TAINABLE. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON THIS 30 TH DAY OF JUNE, 2016. SD/- (SUSHMA CHOWLA) / JUDICIAL MEMBER / PUNE ; DATED : 30 TH JUNE, 2016 . ! #$%&'()(& / COPY OF THE ORDER IS FORWARDED TO : THE APPELLANT; THE RESPONDENT; ' ' # () THE CIT(A)-1, NASHIK; ' ' # THE CIT-1, NASHIK &'( ))*+, ' *+ , , - . // / DR SMC, ITAT, PUNE; (01 2 / GUARD FILE. #! / BY ORDER & ) // TRUE COPY // 345 )! *6 / SR. PRIVATE SECRETARY ' *+ , ITAT, PUNE