Assistant Commissioner of Income-Tax, Bangalore V. M/s. Gangagen Biotechnologies Pvt. Ltd., Bangalore

ITA 1744/BANG/2016

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 7657 (ITAT-BANGALORE)
• Duration Of Justice: 1 year(s) 9 month(s) 22 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 05-10-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PADMAMEENAKSHI J
• Assessee Lawyers: PRATHIBHA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, BENGALURU BEFORE SHRI N.V.VASUDEVAN, JUDICIAL MEMBER AND SHRI INTURI RAMA RAO , ACCOUNTANT MEMBER ITA NO. 1 744 / BANG/ 201 6 (ASSESSMENT YEAR : 20 08 - 09 ) ASST. COMMISSIONER OF INCOME - TAX, CIRCLE 3(1)(2), B ENGALURU. VS. APPELLANT M/S.GANGAGEN BIOTECHNOLOGIES PVT. LTD., NO.12, 5 TH CROSS, RAGHAVENDRA LAYOUT, YESHWANTHPURA, BENGALURU - 560022. PAN:AABCG 6628 E RESPONDENT APPELLANT BY : SMT.PADMAMEENAKSHI, JCIT(DR) RESPONDENT BY : S MT.PRAT HIBHA, ADVOCATE. DATE OF HEARING : 24/07/2018 DATE OF PRONOUNCEMENT : 27 /0 7 /2018 O R D E R PER I NTURI RAMA RAO, AM : THIS IS AN APPEAL FILED BY THE REVENUE DIRECTED AGAINST THE ORDER OF THE LEARNED COMMISSIONER OF INCOME - TAX(APPEALS), BENG ALURU - 6, BENGALURU , DATED 2 9 /0 7 /2016 FOR THE ASSESSMENT YEAR 20 08 - 09 . IT IS STATED BEFORE US THAT THE TAX EFFECT IN THIS CASE CASES IS LESS THAN RS. 20 LAKHS AND THEREFORE THE CIRCULAR NO. 3/2018 DATED 11.07.2018 ISSUED BY THE CENTRAL BOARD OF DIRECT TAXE S (CBDT) IN EXERCISE OF ITS POWER VESTED UNDER SEC. 268A(1) OF THE IT ACT COMES INTO PLAY WHEREIN, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE ITAT AND VARIOUS HIGH COURTS AS WELL AS APEX COURT ARE REVISED WITH AN OBJECT OF THE REDU CING THE TAX LITIGATION. VIDE PARA 3 OF THE SAID CIRCULAR (SUPRA) IT IS STATED THAT IN ITA NO . 1 744 /BANG/201 6 PAGE 2 OF 2 CASES WHERE THE TAX EFFECT IN THE APPEALS TO BE FILED BEFORE THE APPELLATE TRIBUNAL DOES NOT EXCEED RS. 20 LAKHS APPEALS SHOULD NOT BE FILED. THUS TAKING A NOTE OF CBDT CIRCULAR NO. 03/2018, DATED 11.07.2018 AND CONSIDERING THE FACT THAT THE TAX EFFECT IN THE INSTANT APPEAL IS LESS THAN RS. 20 LAKHS, THE PRESENT APPEAL DESERVES TO BE DISMISSED AS NOT PRESSED / NOT MAINTAINABLE. HOWEVER, WE MAKE IT CLEAR THAT THE ISSUES RA ISED IN THE INSTANT APPEAL ARE LEFT OPEN TO BE EXAMINED IN THE APPROPRIATE PROCEEDINGS, IF ARISES, IN FUTURE. AT THE SAME TIME WE ALSO MAKE IT CLEAR THAT IF THE APPEAL FALL IN ANY OF THE EXCEPTIONS REFERRED TO IN THE ABOVE SAID CBDT CIRCULAR, THE REVENUE I S AT LIBERTY TO MOVE AN APPLICATION FOR RECALLING THE ORDER IF SO ADVISED. 2. ACCORDINGLY, IN THE LIGHT OF CBDT CIRCULAR NO.03/2018 DATED 11/07/2018 THE APPEAL STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH JULY 2018 SD/ - SD/ - (N.V.VASUDEVAN) ( INTURI RAMA RAO) JUDICIAL MEMBER ACCOUNTANT M EMBER PLACE : B EN GAL URU D A T E : 27 /0 7 2018 SRINIVASULU, SPS COPY TO : 1 APPELLANT 2 RESPONDENT 3 C IT(A) 4 CIT 5 DR, ITAT, BANGALORE. 6 GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY INCOME - TAX APPELLATE TRIBUNAL BANGALORE