ACIT, New Delhi V. M/s Sage Metals Ltd, New Delhi

ITA 1770/DEL/2015

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 7079 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 3 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-07-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: G
• Assessment Year: 2010-2011
• Appeal Filed On: 30-03-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: K TEWARI
• Keywords: Tax effect
• Section: 115JB

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH G NEW DELHI BEFORE SHRI G.D. AGRAWAL, HONBLE PRESIDEN T AND SHRI SUDHANSHU SRIVASTAVA, JUDICIAL MEMBER ITA NO. 1770/DEL/2015 AY: 20 10-11 ACIT, VS SAGE METALS LTD., CIRCLE-22(1), 346 FIE, PATPARGANJ, NEW DELHI. NEW DELH I-110092 (PAN: AAACS2801A) (APPELLANT) (RESPONDENT) DEPARTMENT BY : SHRI K. TEWARI, SR. DR ASSESSEE BY : SHRI ANUNAV KUMAR, ADV. DATE OF HEARING: 16.07.2018 DATE OF PRONOUNCEMENT: 18.07.2018 ORDER PER SUDHANSHU SRIVASTAVA, J.M. THIS APPEAL HAS BEEN PREFERRED BY THE REVENUE AGAI NST THE ORDER OF THE LD. CIT(A)-8, NEW DELHI DATED 8.1.2015 FOR ASSESSMENT YEAR 2010-11. 2. THE COMPUTATION OF TAX EFFECT HAS BEEN SUBMITT ED ON BEHALF OF THE ASSESSEE AS UNDER:- COMPUTATION OF TAX EFFECT ADDITION MADE UNDER THE NORMAL PROVISION OF INCOME TAX ACT - ON ACCOUNT OF FOREIGN TRAVELLING EXPENSES RS. 16,12,941/- TAX ON ABOVE @ 33.33% RS.5,37,593/- ITA NO.1770/DEL/2015 ASSESSMENT YEAR 2010-11 2 ADDITION MADE UNDER MAT PROVISION U/S 115JB ON ACCOUNT OF GRATUITY RS.51,72,000/- - ON ACCOUNT OF LEAVE ENCASHMENT RS.4,49,000/- RS.56,21,000/- TAX ON ABOVE @ 16.99% RS. 9,55,008/- RS.14,92,601/- 2.1 ADMITTEDLY, THE TAX EFFECT IN THIS APPEAL IS BELOW THE MONETARY LIMIT OF RS. 20 LAKHS. 2.2 IN TERMS OF CBDT CIRCULAR NO. 3/2018 DATED 11 TH JULY, 2018 READ WITH SECTION 268 A OF THE INCOME TAX ACT, 1961, THIS APPEAL BY THE REVENUE SHOULD HAVE BEEN WITHDRAWN OR SHOULD NOT HAVE BEEN PRESSED BY THE REVENUE. 3. IN VIEW OF THE ABOVE, THE APPEAL BY THE REVENU E IS DISMISSED IN LIMINE. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH JULY, 2018. SD/- SD/- (G.D. AGRAWAL) (SUDHANSHU SRIVASTAVA) PRESIDENT JUDICIAL MEMBER DATED: 18 TH JULY, 2018 GS TOTAL ITA NO.1770/DEL/2015 ASSESSMENT YEAR 2010-11 3 COPY FORWARDED TO: - 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT BY ORDER ASSTT. REGISTRAR DATE OF DICTATION DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR.PS /PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR.P S/PS DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WE BSITE OF ITAT DATE ON WHICH THE FILE GOES TO THE BENCH CLERK DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER 1