Dy. Director of Income-Tax, Bangalore V. M/s. Bangalore Stock Exchange Customer Projection Fund, Bangalore

ITA 1643/BANG/2016

• Counselvise Citation: [2018] 124 COUNSELVISE.COM (IT) 9797 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 14-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2010-2011
• Appeal Filed On: 14-09-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PADMA MEENAKSHI JT BENGALURU
• Keywords: Tax effect
• Section: 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI N.V. VASUDEVAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ITA NO S . 1643 & 1644/BANG/201 6 ASSESSMENT YEAR S : 201 0 - 11 & 201 2 - 13 THE DEPUTY DIRECTOR OF INCOME TAX (EXEMPTIONS), BANGALORE. VS. BANGALORE STOCK EXCHANGE CUSTOMER PROJECTION FUND, STOCK EXCHANGE TOWERS, 51, 1 ST CROSS, J.C. ROAD, BANGALORE 560 027. PAN: AABTB 1510H APP ELL ANT RESPONDENT A PP EL LANT BY : SMT. PADMAMEENAKSHI, JT.CIT(DR)(ITAT) , BENGALURU. RE SPONDENT BY : MISS MANASA ANANTHAN, ADVOCATE DATE OF HEARING : 17.07 .201 8 DATE OF PRONOUNCEMENT : 14 . 0 9 .201 8 O R D E R PER N.V. VASUDEVAN, JUDICIAL MEMBER THESE APPEALS ARE PREFERRED BY THE REVENUE AGAIN ST THE ORDERS DATED 26.04.2013 AND 27.04.2015 OF THE CIT(APPEALS) -14, BANGALORE RELATING TO ASSESSMENT YEARS 2010-11 & 2012-13 RESP ECTIVELY. 2. ADMITTEDLY, THE TAX EFFECT IN EACH OF THESE APP EALS BY THE REVENUE IS LESS THAN RS.20 LAKHS. IN VIEW OF THE CBDT CIRC ULAR NO.3/2018 DATED 11.07.2018, THE REVENUE CANNOT FILE APPEALS BEFORE THE TRIBUNAL WHERE THE TAX EFFECT IS LESS THAN RS.20 LAKHS. SINCE THE TAX EFFECT IN THE PRESENT APPEALS ARE LESS THAN RS.20 LAKHS, THESE APPEALS OF THE REVENUE ARE LIABLE ITA NOS.1643 & 1644/BANG/2016 PAGE 2 OF 2 TO BE DISMISSED AS NOT MAINTAINABLE. ACCORDINGLY, THE APPEALS OF THE REVENUE ARE DISMISSED. PRONOUNCED IN THE OPEN COURT ON THIS 14 TH DAY OF SEPTEMBER, 2018. SD/- SD/- ( INTURI RAMA RAO ) ( N.V. VASUDEVAN ) ACCOUNTANT MEMBER JUDICIAL MEMBER BANGALORE, DATED, THE 14 TH SEPTEMBER, 2018. / D ESAI S MURTHY / COPY TO: 1. APP ELL ANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY ITAT, BANGALORE.