Assistant Commissioner of Income Tax, Central Circle-1(4), Bangalore V. Proprietor: R K Production, , Bangalore

ITA 1728/BANG/2017

• Counselvise Citation: [2020] 111 COUNSELVISE.COM (IT) 7729 (ITAT-BANGALORE)
• Duration Of Justice: 2 year(s) 5 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-01-2020
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2009-2010
• Appeal Filed On: 28-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: G S PRASHANTH
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH : BANGALORE BEFORE SHRI A. K. GARODIA, ACCOUNTANT MEMBER AND SMT BEENA PILLAI , JUDICIAL MEMBER ITA NO. 1 728 / BANG /201 7 ASSESSMENT YEAR : 20 09 - 1 0 THE ASSISTANT COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE 1(4), BENGALURU. VS. SHRI. RAVI KIRAN, PROPRIETOR : R. K. PRODUCTION, #19-1 ST STAGE, TEACHERS COLONY, KUMARASWAMY LAYOUT, BENGALURU 560 078. PAN : AETPR 0858 Q APPELLANT RESPONDENT REVENUE BY : MS. NEERA MALHOTRA , CIT - DR ASSESSEE BY : SHRI. G. S. PRASHANTH, CA DATE OF HEARING : 12 . 1 2 .201 9 DATE OF PRONOUNCEMENT : 29 . 01 .20 20 O R D E R PER A. K. GARODIA, AM THIS APPEAL IS FILED BY THE REVENUE AND THE SAME IS DIRECTED AGAINST THE ORDER OF LEARNED CIT(A)-11, BENGALURU, DATED 25.05.2017, FOR ASSESSMENT YEAR 2009-10. 2. IN THIS APPEAL, THE ONLY ISSUE DISPUTED BY THE REVENUE IS REGARDING THE DELETION OF ADDITION OF RS.55,23,400/- MADE BY THE AO ON ACCOUNT OF CAPITAL GAIN AND THE ASSESSEES SHARE OF BUILT UP AREA IN THE PROJECT EXECUTED UNDER JDA. IN FACT, AS PER PARAS 3A AND 3B OF FORM 36 FILED BY THE REVENUE, THE RETURNED INCOME WAS RS.35,04,420/- AND THE ASSESSED INCOME WAS RS.96,70,771/-. HENCE, EVEN IF THE ENTIRE ADDITION MADE BY THE AO IS DELETED BY THE LEARNED CIT(A) AND THE REVENUE IS IN APPEAL FOR THE ENTIRE SUCH DELETION ITA NO. 1728/BANG/2017 PAGE 2 OF 2 THEN ALSO THE TAX EFFECT IN THIS APPEAL OF THE REVENUE IS BOUND TO BE BELOW RS.50 LAKHS. AS PER THE LATEST CBDT INSTRUCTION, THE REVENUE IS NOT SUPPOSED TO FILE ANY APPEAL BEFORE THE TRIBUNAL IN A CASE WHERE THE TAX EFFECT IS BELOW RS.50 LAKHS. THIS IS ALSO A SETTLED POSITION OF LAW THAT THIS INSTRUCTION OF CBDT IS APPLICABLE EVEN TO PENDING APPEALS ALSO. IN VIEW OF THIS, WE HOLD THAT THIS APPEAL OF THE REVENUE IS NOT MAINTAINABLE BECAUSE OF LOW TAX EFFECT AND THE SAME IS DISMISSED ACCORDINGLY. 3. IN THE RESULT, REVENUES APPEAL IS DISMISSED. PRONOUNCED IN THE OPEN COURT ON THE DATE MENTIONED ON THE CAPTION PAGE. SD/- SD- SD/- ( BEENA PILLAI ) ( A. K. GARODIA ) JUDICIAL MEMBER ACCOUNTANT MEMBER BANGALORE. DATED: 29 TH JANUARY, 2020. /NS/* COPY TO: 1. APPELLANT S 2. RESPON DENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER ASSISTANT REGISTRAR, ITAT, BANGALORE.