ACIT, Circle-30, Kolkata, Kolkata V. M/s Foto Industries, Kolkata

ITA 1788/KOL/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 1016 (ITAT-KOLKATA)
• Duration Of Justice: 3 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 27-11-2017
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: SMC
• Assessment Year: 2014-2015
• Appeal Filed On: 03-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Tax effect

Judgement Text

1 ITA NO. 1788/KOL/2017 ASSESSMENT YEAR: 2014-2015 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA SMC BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER I.T.A. NO. 1788/KOL./2017 ASSESSMENT YEAR: 2014-2015 ASSISTANT COMMISSIONER OF INCOME TAX,.............. .................APPELLANT CIRCLE-30, KOLKATA, 2, GARIAHAT ROAD (SOUTH), AAYAKAR BHAWAN DAKSHIN, KOLKATA-700 068 -VS.- M/S. FOTO INDUSTRIES,.............................. ..........................RESPONDENT 13, JAMIR LANE, GARIAHAT MALL BASEMENT, KOLKATA-700 019 [PAN: AAAFF 7739 H] APPEARANCES BY: SHRI SANJAY MUKHERJEE, ADDL. CIT, D.R., FOR THE DEP ARTMENT NONE, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : NOVEMBER 27, 2017 DATE OF PRONOUNCING THE ORDER : NOVEMBER 27, 2017 O R D E R THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-8, KOLKATA DAT ED 19.05.2017. 2. AT THE TIME OF HEARING FIXED TODAY IN THIS CASE, NONE HAS APPEARED ON BEHALF OF THE ASSESSEE. THE LD. D.R., HOWEVER, H AS VERY FAIRLY POINTED OUT THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LESS THAN THE MONETARY LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10 TH DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE AP PEAL BY THE REVENUE BEFORE THE TRIBUNAL. IN THE CIRCULAR NO. 21 /2015 (SUPRA) ISSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPE ALS BY THE REVENUE BEFORE THE TRIBUNAL HAS BEEN INCREASED TO RS.10,00, 000/- AND AS CLARIFIED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS AP PLICABLE RETROSPECTIVELY EVEN TO THE APPEALS PENDING BEFORE THE TRIBUNAL. TH E CBDT HAS ALSO INSTRUCTED THAT SUCH PENDING APPEALS BELOW THIS SPE CIFIED TAX LIMIT OF RS.10,00,000/- MAY BE WITHDRAWN/ NOT PRESSED. KEEPI NG IN VIEW THE 2 ITA NO. 1788/KOL/2017 ASSESSMENT YEAR: 2014-2015 INSTRUCTION GIVEN BY THE CBDT VIDE CIRCULAR NO. 21/ 2015 DATED 10.12.2015, WHICH IS SQUARELY APPLICABLE IN THE PRE SENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WIT HDRAWN/NOT PRESSED AND DISMISSED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISS ED. ORDER PRONOUNCED IN THE OPEN COURT ON 27 TH DAY OF NOVEMBER, 2017. SD/- (P.M. JAGTAP) ACCOUNTANT MEMBER KOLKATA, THE 27 TH DAY OF NOVEMBER, 2017 COPIES TO : (1) ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-30, KOLKATA, 2, GARIAHAT ROAD (SOUTH), AAYAKAR BHAWAN DAKSHIN, KOLKATA-700 068 2) M/S. FOTO INDUSTRIES, 13, JAMIR LANE, GARIAHAT MALL BASEMENT, KOLKATA-700 019 (3) CIT(APPEALS)-8, KOLKATA (4) CIT- , KOLKATA (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE TRUE COPY BY ORDER SENIOR PRIVATE SECRETARY, HEAD OF OFFICE/DDO, INCOME TAX APPELLATE TRIBUNAL KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.