DCIT, Central Circle-1, Nashik V. Shri Amit Digvijay Singh, Nashik

ITA 1945/PUN/2012

• Counselvise Citation: 194524514 RSA 2012
• Duration Of Justice: 2 year(s) 5 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-03-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 01-12-2014
• Assessment Year: 2008-2009
• Appeal Filed On: 05-10-2012
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SANDEEP GARG
• Assessee Lawyers: S N DOSHI
• Keywords: Tax effect
• Section: 142(1); 132; 144; 139

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH A, PUNE BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND MS. SUSHMA CHOWLA, JUDICIAL MEMBER ITA NO.1945/PN/2012 ASSESSMENT YEAR : 2008-09 THE ASSTT. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE- 1, NASHIK. . APPELLANT VS. AMIT DIGVIJAY SINGH, DURGESH RESIDENCY, GANGAPUR ROAD, NASHIK PAN : AQZPS2999F . RESPONDENT DEPARTMENT BY : SHRI SANDEEP GARG, CIT ASSESSEE BY : SHRI S. N. DOSHI DATE OF HEARING : 16-03-2015 DATE OF PRONOUNCEMENT : 31-03-2015 ORDER PER SUSHMA CHOWLA, JM : THE CAPTIONED APPEAL PREFERRED BY THE REVENUE AGAIN ST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-I, NASHIK DATE D 24.07.2012 WHICH, IN TURN, HAS ARISEN FROM THE ORDER DATED 31.12.2009 PA SSED BY THE ASSESSING OFFICER UNDER SECTION 144 R.W.S. 153B OF THE INCOME -TAX ACT, 1961 (IN SHORT THE ACT) PERTAINING TO THE ASSESSMENT YEAR 2008-0 9. 2. IN THIS APPEAL, THE SOLITARY ISSUE RAISED BY THE REVENUE IS WITH REGARD TO THE ACTION OF THE CIT(A) IN DELETING THE ADDITIONS OF (I) RS.6,00,000/- ON ACCOUNT OF ESTIMATION OF INCOME; AND, (II) RS.5,06, 697/- ON ACCOUNT OF JEWELLERY FOUND DURING THE COURSE OF SEARCH ACTION PERTAINING TO ASSESSMENT YEAR 2008-09. 3. IN BRIEF, THE RELEVANT FACTS ARE THAT ASSESSEE I S AN INDIVIDUAL ENGAGED IN THE BUSINESS OF HIRING MOTOR VEHICLES. INITIALLY, ASSESSEE HAD NOT FILED HIS RETURN OF INCOME U/S 139 OF THE ACT. A SEARCH ACTI ON U/S 132 OF THE ACT WAS CONDUCTED ON 28.06.2007 IN THE CASE OF SINGH BHUTAD A GROUP OF CASES AND ITA NO.1945/PN/2012 THE ASSESSING OFFICER FURTHER ISSUED NOTICE U/S 142 (1) OF THE ACT ON 05.10.2009 FOR FILING OF RETURN OF INCOME. IN RESPONSE TO NOT ICE U/S 142(1) OF THE ACT, ASSESSEE HAD NOT FILED HIS RETURN OF INCOME. THE A SSESSING OFFICER ASSESSED THE INCOME ON THE BASIS OF INFORMATION COLLECTED DU RING THE COURSE OF SEARCH PROCEEDINGS AND MADE THE ADDITIONS OF (I) RS.6,00,0 00/- ON ACCOUNT OF ESTIMATION OF INCOME; AND, (II) RS.5,06,697/- ON AC COUNT OF JEWELLERY. BEING AGGRIEVED WITH THE ACTION OF THE ASSESSING OFFICER, ASSESSEE CARRIED THE MATTER BEFORE THE CIT(A). THE CIT(A) HAS NOT AGREED WITH THE STAND OF THE ASSESSING OFFICER AND DELETED THE AFORESAID IMPUGNED ADDITION S. NOT BEING SATISFIED WITH THE DECISION OF THE CIT(A), REVENUE IS IN APPEAL BE FORE US. 4. AT THE TIME OF HEARING, A PRELIMINARILY OBJECTIO N WAS RAISED BY THE LD. REPRESENTATIVE FOR THE RESPONDENT-ASSESSEE TO THE E FFECT THAT THE CAPTIONED APPEAL IS NOT MAINTAINABLE IN VIEW OF INSTRUCTION N O.5 OF 2014 DATED 10.07.2014 ISSUED BY THE CBDT. THE PLEA RAISED BEF ORE US IS THAT THE TAX EFFECT IN RESPECT OF THE ISSUE RAISED IN THE PRESEN T APPEAL IS BELOW THE LIMIT PRESCRIBED BY CBDT IN ITS INSTRUCTION NO.5 OF 2014 (SUPRA) FOR FILING OF APPEALS BEFORE THE TRIBUNAL. 5. IN RESPONSE, THE LD. DEPARTMENTAL REPRESENTATIVE HAS NOT CONTESTED THE FACTUAL MATRIX THAT THE TAX EFFECT INVOLVED IN PRESENT APPEAL IS BELOW THE MONETARY LIMITS PRESCRIBED BY THE CBDT IN ITS INSTR UCTION NO.5 OF 2014 (SUPRA) REGARDING FILING OF APPEALS BEFORE THE TRIBUNAL. 6. IN VIEW OF THE AFORESAID FACTUAL POSITION, IT IS EVIDENT THAT THE CAPTIONED APPEAL IS NOT MAINTAINABLE AND IS HIT BY THE MONETA RY LIMITS PRESCRIBED BY THE CBDT VIDE INSTRUCTION NO.5 OF 2014 (SUPRA) FOR FILI NG OF APPEALS BEFORE THE TRIBUNAL. NOTABLY, AS PER THE CBDT INSTRUCTION NO. 5 OF 2014 (SUPRA) APPEAL BEFORE THE TRIBUNAL SHALL NOT BE FILED IN CASES WHE RE THE TAX EFFECT IN RESPECT OF THE ISSUES RAISED IS BELOW RUPEES FOUR LACS. AS A RESULT OF THE AFORESAID ITA NO.1945/PN/2012 DISCUSSION, IN OUR VIEW, THE PRESENT APPEAL OF THE REVENUE IS NOT MAINTAINABLE IN THE LIGHT OF THE CBDT INSTRUCTION NO.5 OF 2014 ( SUPRA). ACCORDINGLY, THE CAPTIONED APPEAL IS DISMISSED AS NOT MAINTAINABLE. 7. IN THE RESULT, THE CAPTIONED APPEAL OF THE REVEN UE IS DISMISSED, AS ABOVE. ORDER PRONOUNCED ON 31 ST MARCH, 2015. SD/- SD/- (G.S. PANNU) (SUSHMA CHOWLA) ACCOUNTANT MEMBER JUDICIAL MEMBER PUNE, DATED: 31 ST MARCH, 2015. SUJEET COPY OF THE ORDER IS FORWARDED TO : - 1) THE ASSESSEE; 2) THE DEPARTMENT; 3) THE CIT(A)-I, NASHIK; 4) THE CIT-I, NASHIK; 5) THE DR A BENCH, I.T.A.T., PUNE; 6) GUARD FILE. BY ORDER //TRUE COPY// ASSISTANT REGISTRAR I.T.A.T., PUNE