DCIT Circle-2(1) (2), Ahmedabad V. Lambda Therapeutic Research Ltd., Ahmedabad

ITA 1935/AHD/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 9880 (ITAT-AHMEDABAD)
• Duration Of Justice: 2 year(s) 6 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 17-03-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2014-2015
• Appeal Filed On: 12-09-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: LALIT P JAIN
• Assessee Lawyers: T P HEMANI; PARIMAL SINGH PARMAR A
• Keywords: Tax effect

Judgement Text

, D IN THE INCOME TAX APPELLATE TRIBUNAL D BENCH, AHMEDABAD BEFORE SHRI MAHAVIR PRAS AD, JUDICIAL MEMBER & SHRI WASEEM AHMED, ACCOUNTANT MEMBER [VIRTUAL COURT] ./ I.T.A. NO. 1935/AHD/2018 ( / ASSESSMENT YEAR : 2014-15) THE DCIT, CIRCLE- 2(1)(2), AHMEDABAD / VS. LAMBDA THERAPEUTIC RESEARCH LTD. LAMBDA HOUSE, OPP. GUJARAT HIGH COURT, S.G. HIGHWAY AHMEDABAD ./ ./ PAN/GIR NO. : AAACL4089R ( / APPELLANT ) .. ( / RESPONDENT ) / APPELLANT BY : SHRI LALIT P. JAIN, SR.D.R. / RESPONDENT BY : SHRI T.P. HEMANI, SR. ADV. & SHRI PARIMAL SINGH PARMAR, A.R. / DATE OF HEARING 17/03/2021 / DATE OF PRONOUNCEMENT 17/03/2021 / O R D E R PER MAHAVIR PRASAD - JM: THE CAPTIONED APPEAL HAS BEEN FILED AT THE INSTANCE OF THE REVENUE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-2, AHMEDABAD (CIT(A) IN SHORT), DATED 20.06.2018 ARISING OUT OF ASSESSMENT ORDER DATED 25.01.2018 FOR AY 2014-15. 2. AT THE TIME OF HEARING, IT WAS SUBMITTED BY THE LD.AR FOR THE ASSESSEE THAT THE APPEAL FILED BY THE REVENUE IS HIT BY RECENTLY ISSUED CBDT CIRCULAR NO.17 OF 2019 DATED 08/08/2019 REVISING THE PREVIOUS THRESHOLDS PERTAINING ITA NO. 1935/AHD/18 A.Y. 2014-15 - 2 - TO TAX EFFECTS. IT IS INTER ALIA NOTICED THAT THE CBDT VIDE INSTRUCTION NO. F. NO. 279/MISC/M-93/2018-ITJ DT. 20/08 /2019 HAS OBSERVED THAT CIRCULAR NO.17/2019 DATED 08/08/2019 RELATING TO ENHANCEMENT OF MONETARY LIMITS IS ALSO APPLICABLE TO ALL PENDING APPEALS. AS PER AFORESAID CIRCULAR READ WITH INSTRUCTION, ALL PENDING APPEALS FILED BY REVENUE ARE LIABLE TO BE DISMISSED AS A MEASURE FOR REDUCING LITIGATION WHERE THE TAX EFFECT DOES NOT EXCEED THE PRESCRIBED MONETARY LIMIT WHICH IS NOW REVISED AT RS.50 LAKHS. IN THE INSTANT CASE, THE TAX EFFECT ON THE DISPUTED ISSUES RAISED BY THE REVENUE IS STATED TO BE NOT EXCEEDING RS.50 LAKHS AND THEREFORE APPEAL OF THE REVENUE IS REQUIRED TO BE DISMISSED IN LIMINE . 3. THE LEARNED DR FOR THE REVENUE FAIRLY ADMITTED THE APPLICABILITY OF THE CBDT CIRCULAR NO. 17 OF 2019. A CCORDINGLY, APPEAL OF THE REVENUE IS DISMISSED AS NOT MAINTAINABLE. HOWEVER, IT WILL BE OPEN TO THE REVENUE TO SEEK RESTORATION OF ITS APPEAL ON SHOWING INAPPLICABILITY OF THE AFORESAID CBDT CIRCULAR IN ANY MANNER. 4. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISMISSED. SD/- SD/- (WASEEM AHMED) (M AHAVIR PRASAD) ACCOUNTANT MEMBER JUDICIAL MEMBER AHMEDABAD: DATED 17/03/2021 TRUE COPY RAJESH / COPY OF ORDER FORWARDED TO:- 1. / REVENUE 2. / ASSESSEE 3. / CONCERNED CIT 4. - / CIT (A) 5. , , / DR, ITAT, AHMEDABAD 6. / GUARD FILE. BY ORDER / , / , THIS ORDER PRONOUNCED IN OPEN COURT ON 17/03/2021