Deputy Commissioner of Income-tax, V. M/s. H.B. & Associates, Pune

ITA 1613/PUN/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 1599 (ITAT-PUNE)
• Duration Of Justice: 6 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 30-06-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2008-2009
• Appeal Filed On: 08-12-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: HITENDRA NINAWE
• Assessee Lawyers: C U DESH
• Keywords: Tax effect
• Section: 143(3); 14A

Judgement Text

- IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH SMC, PUNE , BEFORE MS. SUSHMA CHOWLA, JM / ITA NO.1613/PN/2015 ! ' ' / ASSESSMENT YEAR : 2008-09 THE DY. COMMISSIONER OF INCOME TAX, CIRCLE 3, PUNE . / APPELLANT VS. M/S H.B. & ASSOCIATES, 1, PAYAL APARTMENT, MODEL COLONY, SHIVAJI NAGAR, PUNE 16 . RESPONDENT PAN: AAAFH7376N / APPELLANT BY : SHRI HITENDRA NINAWE / RESPONDENT BY : SHRI C.U. DESHPANDE 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)-3, PUNE, DATED 08.09.2015 RELATING TO ASSESSMENT YEAR 2008-0 9 AGAINST ORDER PASSED UNDER SECTION 143(3) OF THE INCOME-TAX ACT, 1961 (I N SHORT THE ACT). 2. ON THE PERUSAL OF RECORD, IT IS APPARENT THAT TH E REVENUE HAS FILED AN APPEAL AGAINST THE ORDER OF CIT(A) IN ALLOWING THE DEDUCTION ON ACCOUNT OF INTEREST AS PER SECTION 40B(IV) OF THE ACT AMOUNTIN G TO RS.13,53,461/-. THE TOTAL ITA NO.1613/PN/2015 2 TAX PAYABLE ON THE SAID DELETION OF RS.13,53,461/- IS BELOW RS.10 LAKHS. THE ASSESSEE IS NOT IN APPEAL AGAINST THE DISALLOWANCE CONFIRMED BY THE CIT(A) UNDER SECTION 14A OF THE ACT. IN VIEW OF THE CBDT S CIRCULAR NO.21/2015 DATED 10.12.2015, THE LIMIT FOR FILING THE APPEALS BEFORE THE TRIBUNAL HAVE BEEN REVISED AND ONLY APPEALS WITH TAX EFFECT OF RS.10 L AKHS ARE TO BE FILED BEFORE THE TRIBUNAL. THIS ALSO APPLIES TO THE PENDING APPEALS BEFORE THE TRIBUNAL. THE LD. DEPARTMENTAL REPRESENTATIVE FOR THE REVENUE FAIRLY CONCEDED THAT THE TAX EFFECT IN THE PRESENT APPEAL IS LESS THAN RS.10 LAK HS AND HENCE THE SAME IS NOT MAINTAINABLE. IN VIEW THEREOF, THE APPEAL FILED BY THE REVENUE IS DISMISSED AS NOT BEING MAINTAINABLE. 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)-3, PUNE; ' ' # THE CIT-3, PUNE &'( ))*+, ' *+ , , - . // / DR SMC, ITAT, PUNE; (01 2 / GUARD FILE. #! / BY ORDER & ) // TRUE COPY // 345 )! *6 / SR. PRIVATE SECRETARY ' *+ , ITAT, PUNE