DCIT, Corporate Circle 3(2), CHENNAI V. V.G.P.Finance Ltd., CHENNAI

ITA 174/CHNY/2018

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 2559 (ITAT-CHENNAI)
• Duration Of Justice: 7 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-08-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2005-2006
• Appeal Filed On: 12-01-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: G D JAYANTHI ANGAYARKANNI
• Assessee Lawyers: S SRIDHAR
• Keywords: Tax effect

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, CHENNAI . . . , , ' # BEFORE SHRI N.R.S. GANESAN, JUDICIAL MEMBER AND SHRI S. JAYARAMAN, ACCOUNTANT MEMBER ./ ITA NOS.173 & 174/CHNY/2018 & '& / ASSESSMENT YEAR : 2005-06 THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 3(2), CHENNAI - 600 034. V. M/S VGP FINANCES LTD., NO.6, DHARMARAJA KOIL STREET, VGP SQUARE, SAIDAPET, CHENNAI - 600 015. PAN : AAACV 3642 G ()*/ APPELLANT) (+,)*/ RESPONDENT) )* - . / APPELLANT BY : MS.G.D. JAYANTHI ANGAYARKANNI, JCIT +,)* - . / RESPONDENT BY : SHRI S. SRIDHAR, ADVOCATE / - 0' / DATE OF HEARING : 27.08.2018 12' - 0' / DATE OF PRONOUNCEMENT : 27.08.2018 / O R D E R PER N.R.S. GANESAN, JUDICIAL MEMBER: BOTH THE APPEALS FILED BY THE REVENUE ARE DIRECTED AGAINST THE RESPECTIVE ORDERS OF THE COMMISSIONER OF INCOME TAX (APPEALS)-11, CHENNAI, DATED 31.10.2017 AND PERTAIN TO ASSESSMENT YEAR 2005-06. 2. ON HEARING THE LD. DEPARTMENTAL REPRESENTATIVE, WE FIND THAT THE TAX EFFECT IN THIS CASE IS LESS THAN `2 0 LAKHS. THE CBDT IN ITS CIRCULAR NO.3/2018 DATED 11.07.2018 INSTRUCTED ITS OFFICERS TO WITHDRAW ALL THE 2 I.T.A. NOS.173 & 174/CHNY/18 APPEALS PENDING BEFORE THE ITAT WHERE THE TAX EFFEC T IS LESS THAN `2 0 LAKHS. THIS TRIBUNAL IS OF THE CONSIDERED OPINION THAT THIS CIRCULAR OF CBDT IS BINDING ON THE OFFICERS OF THE DEPARTMENT. THEREFORE, THE REVENUE CANNOT PROCEED FURTHER IN THIS APPEAL. ACC ORDINGLY, BOTH THE APPEALS OF THE REVENUE STAND DISMISSED. 3. IN THE RESULT, BOTH THE APPEALS OF THE REVENUE A RE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT AFTER CONCLUSION OF HEARING ON 27TH AUGUST, 2018 AT CHENNAI. SD/- SD/- ( ) ( . . . ) (S. JAYARAMAN) (N.R.S. GANESAN) ' / ACCOUNTANT MEMBER /JUDICIAL MEMBER /CHENNAI, 4 /DATED, THE 27 TH AUGUST, 2018. KRI. - +056 76'0 /COPY TO: 1. )*/ APPELLANT 2. +,)*/ RESPONDENT 3. / 80 () /CIT(A)-11, CHENNAI-34 4. PRINCIPAL CIT- 3, CHENNAI. 5. 69 +0 /DR 6. :& ; /GF.