Deputy Commissioner of Income-tax, Circle - 7, Pune V. Shruti A.Patni, Pune

ITA 1698/PUN/2017

• Counselvise Citation: [2019] 117 COUNSELVISE.COM (IT) 5794 (ITAT-PUNE)
• Duration Of Justice: 1 year(s) 10 month(s) 2 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 09-05-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2014-2015
• Appeal Filed On: 07-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHOK BABU
• Keywords: Tax effect

Judgement Text

] IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI VIKAS AWASTHY, JUDICIAL MEMBER . / ITA NO.1698/PUN/2017 / ASSESSMENT YEAR : 2014-15 THE DY. COMMISSIONER OF INCOME - TAX, CIRCLE 14, PUNE. . / APPELLANT V/S MRS. SHRUTI A. PATNI, BODHI TOWER, 548/2B, SALISBURY PARKI, GULTEKADI, PUNE 411 037. PAN : ALSPS5573R. . / RESPONDENT . / ITA NO.1699/PUN/2017 / ASSESSMENT YEAR : 2014-15 THE DY. COMMISSIONER OF INCOME - TAX, CIRCLE 7, PUNE. . / APPELLANT V/S MR. AMITKUMAR G. PATNI, BODHI TOWER, 548/2B, SALISBURY PARKI, GULTEKADI, PUNE 411 037. PAN : AAUPP2869G. . / RESPONDENT ASSESSEE BY : SHRI C.H. NANIWADEKAR. REVENUE BY : SHRI ASHOK BABU. / ORDER PER VIKAS AWASTHY, JM : THESE TWO APPEALS BY TWO DIFFERENT ASSESSEES ARE DIRECTE D AGAINST THE ORDERS OF COMMISSIONER OF INCOME TAX (APPEALS) , PUNE-5, / DATE OF HEARING : 09.05.2019 / DATE OF PRONOUNCEMENT: 09.05.2019. 2 ITA NOS.1698 & 1699/PUN/2017 PUNE OF EVEN DATE I.E. 24.04.2017 IN THEIR RESPECTIVE CASES FOR THE ASSESSMENT YEAR 2014-15. 2. SHRI ASHOK BABU REPRESENTING THE DEPARTMENT SUBMITT ED AT THE OUTSET THAT THE APPEALS OF REVENUE ARE HAVING LOW TAX EFFECT ACCORDING TO CBDT CIRCULAR NO.3/2013 DATED 11.07.2018. 3. SHRI C.H. NANIWADEKAR APPEARING ON BEHALF OF ASSESSEE SUPPORTED THE CONTENTIONS OF LD.D.R. 4. WE HAVE HEARD THE SUBMISSIONS MADE BY LD. DR AND HAVE PERUSED THE MATERIAL AVAILABLE ON RECORD. THE REVENUE IS IN APPEAL AGAINST THE ORDERS OF COMMISSIONER OF INCOME TAX (APPEAL) IN ALLOWING THE CLAIM OF ASSESSEES WITH RESPECT TO CAPITAL GAINS. P RIMA-FACIE, THE TAX EFFECT INVOLVED IN BOTH THE APPEALS IS LESS THAN THE M ONETARY LIMIT PRESCRIBED BY THE RECENT CBDT CIRCULAR FOR FILING OF APPEAL BEFORE THE TRIBUNAL BY THE DEPARTMENT. THE CBDT VIDE CIRCULAR NO.3/20 18 DATED 11-07-2018 HAS RAISED THE MONETARY LIMIT OF TAX EFFE CT FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL TO RS.20 LAKHS. THE CIRCULAR APPLIES TO THE APPEALS TO BE FILED BY THE DEPARTM ENT IN FUTURE AS WELL AS THE APPEALS PENDING BEFORE THE TRIBUNAL. WITHOUT GOING INTO MERIT OF THE ISSUES RAISED IN THE APPEALS, THE PRESENT AP PEALS OF THE REVENUE ARE DISMISSED ON ACCOUNT OF LOW TAX EFFECT. 5. BEFORE PARTING, WE CLARIFY HERE THAT THE REVENUE SHALL B E AT LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF APPEA LS, WITH THE REQUISITE MATERIAL TO SHOW THAT THE APPEALS ARE PROTECT ED BY THE EXCEPTIONS PRESCRIBED IN PARA 10 OF THE CIRCULAR (SUPRA). 3 ITA NOS.1698 & 1699/PUN/2017 6. IN THE RESULT, APPEALS OF THE REVENUE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AFTER HEARING OF THE APPEAL ON THURSDAY, THE 09 TH DAY OF MAY, 2019. SD/- SD/- (R.S. SYAL) (VIKAS AWASTHY) VICE PRESIDENT JUDICIAL MEMB ER PUNE; DATED : 09 TH MAY, 2019. YAMINI !'#$%&%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT 3. 4. 5 6. CIT(A), PUNE-5, PUNE. PR. CIT-, PUNE-4, PUNE. '#$ %%&',)&', / DR, ITAT, A PUNE; $,-./ GUARD FILE. / BY ORDER // TRUE COPY // /01%2&3 / SR. PRIVATE SECRETARY )&', / ITAT, PUNE.