ITO, Ward-3(2), Purulia, Purulia V. M/S. D.H. Bilimoria & Sons., Purulia

ITA 167/KOL/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 4512 (ITAT-KOLKATA)
• Duration Of Justice: 1 year(s) 5 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-07-2016
• Appeal Filed By: Department
• Bench Allotted: SMC
• Assessment Year: 2010-2011
• Appeal Filed On: 10-02-2015
• Court: TRIBUNAL
• Department Lawyers: SAURABH KUMAR
• Assessee Lawyers: DIPAK KR AGARWAL
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 167/KOL./2015 ASSESSMENT YEAR: 2010-2011 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A(SMC) BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER I.T.A. NO. 167 /KOL/ 2015 ASSESSMENT YEAR: 2010-2011 INCOME TAX OFFICER,................................ ................................APPELLANT WARD-3(2), PURULIA, SOUTH LAKE ROAD, P.O. & DIST. PURULIA, PIN-723 101 -VS.- M/S. D.H. BILLIMORIA & SONS,....................... ............................RESPONDENT SOUTH STATION ROAD, P.O. ADRA, DIST. PURULIA-723 121 [PAN: AADFD 8660 Q] APPEARANCES BY: SHRI SAURABH KUMAR, JCIT, D.R., FOR THE DEPARTMENT SHRI DIPAK KR AGARWAL, A.R., FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : JULY 11, 2016 DATE OF PRONOUNCING THE ORDER : JULY 11, 2016 O R D E R THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS), ASANSOL DATED 08.12.2014 FOR THE ASSESSMENT YEAR 2010-11 ON THE FOLLOWING GROUNDS:- (1) THAT THE LD. CIT(A), ASANSOL HAS ERRED IN LAW AND O N FACTS IN DELETING THE ADDITION OF RS.6,80,000/- MAD E BY THE A.O. ON ACCOUNT OF DIFFERENCE OF OUTSTANDING LOAN FROM M/S. OM ENTERPRISE. (2) THAT THE LD. CIT(A), ASANSOL HAS ERRED IN LAW AND O N FACTS IN DELETING THE ADDITION OF RS.16,15,916/- ON ADDITION MADE BY THE A.O. ON ACCOUNT OF BOGUS SUNDRY CREDITORS. 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 RECENTLY FIXED BY THE CBDT VIDE CIRC ULAR NO. 21/2015 I.T.A. NO. 167/KOL./2015 ASSESSMENT YEAR: 2010-2011 PAGE 2 OF 2 DATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE AP PEAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEAR LY EVIDENT FROM THE GROUNDS RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTED EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 (SUPRA) RECENTLY I SSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEAL BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFI ED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVE LY EVEN TO THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INST RUCTED THAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF R S.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 JULY 11, 2016 . SD/- (P.M. JAGTAP) ACCOUNTANT MEMBER KOLKATA, THE 11TH DAY OF JULY, 2016 COPIES TO : (1) INCOME TAX OFFICER, WARD-3(2), PURULIA, SOUTH LAKE ROAD, P.O. & DIST. PURULIA, PIN-723 101 (2) M/S. D.H. BILLIMORIA & SONS, SOUTH STATION ROAD, P.O. ADRA, DIST. PURULIA-723 121 (3) COMMISSIONER OF INCOME TAX (APPEALS), ASANSOL, (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.