ITO, Ward-36(4), Kolkata, Kolkata V. The Calcutta Tramways Employees Co-operative Credit Society Ltd., Kolkata

ITA 173/KOL/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 1690 (ITAT-KOLKATA)
• Duration Of Justice: 6 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-08-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2012-2013
• Appeal Filed On: 02-02-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

I.T.A. NO. 173/KOL./2017 ASSESSMENT YEAR: 2012-2013 PAGE 1 OF 3 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A(SMC) BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER I.T.A. NO. 173/KOL/ 2017 ASSESSMENT YEAR: 2012-2013 INCOME TAX OFFICER,................................ .........................................APPELLANT WARD-36(4), KOLKATA, AAYAKAR BHAWAN POORVA, 8 TH FLOOR, ROOM NO. 815, 110, SHANTIPALLY, KOLKATA-700 107 -VS.- THE CALCUTTA TRAMWAYS EMPLOYEES COOPERATIVE SOCIETY LTD.,......RESPONDENT 12, R.N. MUKHERJEE ROAD, KOLKATA-700 001 [PAN: AABAT 2333 B] APPEARANCES BY: SHRI ARINDAM BHATTACHARJEE, ADDL. CIT, D.R., FOR TH E DEPARTMENT N O N E, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : AUGUST 18, 2017 DATE OF PRONOUNCING THE ORDER : AUGUST 18, 2017 O R D E R PER SHRI P.M. JAGTAP, A.M. .: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-10, KOLKATA DA TED 24.11.2016 ON THE FOLLOWING GROUNDS:- (1) ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) HAS ERRED BY ALLOWING RELIEF TO THE ASSESSEE BY TREATING THE INTEREST INCOME CLAIME D BY THE ASSESSEE FROM NATIONALIZED BANK TO THE EXTENT OF RS.8,08,154/- IS ELIGIBLE FOR DEDUCTION U /S 80P OF THE ACT. (2) WHERE ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW THE LD. CIT(A) HAS ERRED BY ALLOWIN G RELIEF TO THE ASSESSEE BY TREATING THE INCOME FROM HOLIDAY HOME TO THE EXTENT OF RS.3,35,428/- CLAIMED BY THE ASSESSEE AS ELIGIBLE FOR DEDUCTION U/S 80P O F THE ACT. I.T.A. NO. 173/KOL./2017 ASSESSMENT YEAR: 2012-2013 PAGE 2 OF 3 2. AT THE TIME OF HEARING FIXED IN THIS CASE TODAY, I.E. ON 18.08.2017, NONE HAS APPEARED ON BEHALF OF THE ASSESSEE. IT IS HOWEVER, NOTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE I S LESS THAN THE MONETARY LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 21/2015 D ATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE APPEAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEARLY 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) ISSUED BY THE CBDT, THE MONETARY LI MIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULA R, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVELY EVEN TO THE APP EALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED THAT SUCH PE NDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00,000/- MAY BE W ITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUCTION GIVEN BY THE CBDT V IDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WHICH IS SQUARELY APPLICA BLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMISSED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON AUGUST 18, 20 17. SD/- (P.M. JAGTAP) ACCOUNTANT MEMBER KOLKATA, THE 18 TH DAY OF AUGUST, 2017 COPIES TO : (1) INCOME TAX OFFICER, WARD-36(4), KOLKATA, AAYAKAR BHAWAN POORVA, 8 TH FLOOR, ROOM NO. 815, 110, SHANTIPALLY, KOLKATA-700 107 (2) THE CALCUTTA TRAMWAYS EMPLOYEES COOPERATIVE SOCIETY LTD., 12, R.N. MUKHERJEE ROAD, KOLKATA-700 001 (3) COMMISSIONER OF INCOME TAX (APPEALS)-10, KO LKATA; (4) COMMISSIONER OF INCOME TAX ,KOLKAT A I.T.A. NO. 173/KOL./2017 ASSESSMENT YEAR: 2012-2013 PAGE 3 OF 3 (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY, HEAD OF OFFICE/DDO INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.