The Assistant Commissioner of Income Tax, Circle-2 (1), Panaji V. M/s Rajaram Bandekar (Shrigao)) Mines (P) Ltd., Vasco

ITA 179/PAN/2019

AI Insights

The case involves an appeal by the Assistant Commissioner of Income Tax, Circle-2(1), Panaji against Rajaram Bandekar (Shrigao) Mines Pvt Ltd concerning the assessment year 2009-2010. The appeal was against the order of the CIT(A) Panaji-1, dated 26.02.2019, which was in proceedings under section 143(3) of the Income Tax Act, 1961. During the hearing, it was acknowledged by both parties that the tax effect involved in the appeal was Rs. 23,55,962/-, which is below the threshold of Rs. 50 lakhs set by the CBDT circular for filing appeals. Consequently, the tribunal dismissed the appeal.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 136831 (ITAT-PANAJI)
• Duration Of Justice: 4 year(s) 2 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-07-2023
• Appeal Filed By: Department
• Order Result: DismissedDismissed
• Bench Allotted: DB
• Assessment Year: 2009-2010
• Appeal Filed On: 13-05-2019
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PANAJI BENCH : PANAJI (THROUGH VIRTUAL HEARING) BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI G.D. PADMAHSHALI, ACCOUNTANT MEMBER ITA.No.179/PAN./2019 Assessment Year 2009-2010 The Asst. CIT, Circle-2(1) Aayakar Bhawan, EDC Complex, Patto, Panaji. Goa. PIN – 403 001 vs. Rajaram Bandekar (Shrigao) Mines Pvt Ltd., 601, 6 th Floor, Dr. Ozler Forum, St. Andrew Church, Vasco Da Gama, Goa – 403 802 PAN AAACR9460L (Appellant) (Respondent) For Revenue : Shri N. Shrikanth For Assessee : Shri P.K. Bansal Date of Hearing : 13.07.2023 Date of Pronouncement : 26.07.2023 ORDER PER SATBEER SINGH GODARA, J.M. : This Revenue’s appeal for assessment year 2009- 2010, arise against the CIT(A) Panaji-1, Panaji's order dated 26.02.2019, in case no.CIT(A), PNJ-1/10275/2012-13, in proceedings u/sec.143(3) of the Income Tax Act, 1961 (in short "the Act"). Heard both the parties. Case file perused. 2. Both the learned representatives fairly stated during the course of hearing that the Revenue’s instant appeal ITA.No.179/PAN./2019 involves tax effect of Rs.23,55,962/-; 2 ITA.No.179/PAN./2019 as per column no.10 in Form No.36 before us and therefore, the same is lower than the prescribed minimum tax effect of Rs.50 lakhs as per the CBDT’s circular no.17/2019 dated 08.08.2019 made applicable to all pending appeals; with retrospective effect. Faced with the situation, we dismiss the Revenue’s instant appeal in very terms. Ordered accordingly. 3. This Revenue’s appeal is dismissed in above terms. Order pronounced in the open court on 26.07.2023. Sd/- Sd/- [G.D. PADMAHSHALI] [SATBEER SINGH GODARA] ACCOUNTANT MEMBER JUDICIAL MEMBER Pune, Dated 26 th July, 2023 VBP/- Copy to 1. The appellant 2. The respondent 3. The CIT(A) Panaji-1, “Aayakar Bhavan”, Plot No.5, EDC Complex, Patto Plaza, Panaji – 403 001. 4. Pr. CIT, Panaji. 5. D.R. ITAT, Panaji Bench, Panaji 6. Guard File. //By Order// Assistant Registrar, ITAT, Pune Benches, Pune.