ACIT, Circle - 29, Kolkata, Kolkata V. M/S. Vida Engineering Co., Kolkata

ITA 204/KOL/2015

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 1775 (ITAT-KOLKATA)
• Duration Of Justice: 2 year(s) 2 month(s) 18 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 15-05-2017
• Appeal Filed By: Department
• Bench Allotted: A
• Assessment Year: 2009-2010
• Appeal Filed On: 26-02-2015
• Court: TRIBUNAL
• Keywords: Depreciation; Tax effect
• Section: 32

Judgement Text

I.T.A. NO. 204/KOL./2015 ASSESSMENT YEAR: 2009-2010 PAGE 1 OF 2 IN THE INCOME TAX APPELLATE TRIBUNAL, KOLKATA A BENCH, KOLKATA BEFORE SHRI P.M. JAGTAP, ACCOUNTANT MEMBER AND SHRI A.T. VARKEY, JUDICIAL MEMBER I.T.A. NO. 204/KOL/ 2015 ASSESSMENT YEAR: 2009-2010 ASSISTANT COMMISSIONER OF INCOME TAX,.............. .................APPELLANT CIRCLE-29, KOLKATA, AAYAKAR BHAWAN DAKSHIN, 4 TH FLOOR, GARIAHAT ROAD (SOUTH), KOLKATA-700 068 -VS.- M/S. VIDA ENGINEERING CO.,......................... ..........................RESPONDENT 128/4A, HAZRA ROAD, KOLKATA-700 026 [PAN: AAAAV 4651 R] APPEARANCES BY: SHRI SAURABH KUMAR, ADDL. CIT, D.R., FOR THE DEPARTMENT N O N E, FOR THE ASSESSEE DATE OF CONCLUDING THE HEARING : MAY 15, 2017 DATE OF PRONOUNCING THE ORDER : MAY 15, 2017 O R D E R PER SHRI P.M. JAGTAP, A.M .: THIS APPEAL IS PREFERRED BY THE REVENUE AGAINST THE ORDER OF LD. COMMISSIONER OF INCOME TAX (APPEALS)-8, KOLKATA DAT ED 31.12.2014 AND IN THE SOLITARY GROUND RAISED THEREIN, THE REVENUE HAS CHALLENGED THE ACTION OF THE LD. CIT(APPEALS) IN ALLOWING THE CLAI M OF THE ASSESSEE FOR DEDUCTION ON ACCOUNT OF DEPRECIATION UNDER SECTION 32 FROM THE INCOME OF THE ASSESSEE ESTIMATED BY THE ASSESSING OFFICER AT RS.65,04,374/- BY INVOKING THE PROVISIONS OF SECTION 145(3) AS AGAINS T THE TOTAL INCOME OF RS.33,62,630/- DECLARED BY THE ASSESSEE IN THE RETU RN OF INCOME. 2. AT THE TIME OF HEARING FIXED TODAY, I.E. ON 15.0 5.2017, NONE APPEARED ON BEHALF OF THE ASSESSEE. IT IS, HOWEVER, NOTED THAT THE TAX EFFECT INVOLVED IN THIS APPEAL OF THE REVENUE IS LE SS THAN THE REVISED MONETARY LIMIT FIXED BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10 TH I.T.A. NO. 204/KOL./2015 ASSESSMENT YEAR: 2009-2010 PAGE 2 OF 2 DECEMBER, 2015 AT RS.10,00,000/- FOR FILING THE APP EAL BY THE REVENUE BEFORE THE TRIBUNAL AND THIS POSITION CLEARLY EVIDE NT FROM THE GROUND RAISED BY THE REVENUE IN THIS APPEAL IS NOT DISPUTE D EVEN BY THE LD. D.R. IN CIRCULAR NO. 21/2015 (SUPRA) ISSUED BY THE CBDT, THE MONETARY LIMIT FOR FILING THE APPEALS BY THE REVENUE BEFORE THE TR IBUNAL HAS BEEN INCREASED TO RS.10,00,000/- AND AS CLARIFIED IN THE SAID CIRCULAR, THE SAID MONETARY LIMIT IS APPLICABLE RETROSPECTIVELY EVEN T O THE APPEALS PENDING BEFORE THE TRIBUNAL. THE CBDT HAS ALSO INSTRUCTED T HAT SUCH PENDING APPEALS BELOW THIS SPECIFIED TAX LIMIT OF RS.10,00, 000/- MAY BE WITHDRAWN/ NOT PRESSED. KEEPING IN VIEW THE INSTRUC TION GIVEN BY THE CBDT VIDE CIRCULAR NO. 21/2015 DATED 10.12.2015, WH ICH IS SQUARELY APPLICABLE IN THE PRESENT CASE, THE APPEAL FILED BY THE REVENUE IN THIS CASE IS TREATED AS WITHDRAWN/NOT PRESSED AND DISMIS SED ACCORDINGLY. 3. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. ORDER PRONOUNCED IN THE OPEN COURT ON MAY 15, 2017. SD/- SD/- (A.T. VARKEY) (P.M. JAGTAP) JUDICIAL MEMBER ACCOUNTANT MEMBER KOLKATA, THE 15 TH DAY OF MAY, 2017 COPIES TO : (1) ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-29, KOLKATA, AAYAKAR BHAWAN DAKSHIN, 4 TH FLOOR, GARIAHAT ROAD (SOUTH), KOLKATA-700 068 (2) M/S. VIDA ENGINEERING CO., 128/4A, HAZRA ROAD, KOLKATA-700 026 (3) COMMISSIONER OF INCOME TAX (APPEALS)-8, KOLKAT A, (4) COMMISSIONER OF INCOME TAX- , (5) THE DEPARTMENTAL REPRESENTATIVE (6) GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY, HEAD OF OFFICE/DDO, INCOME TAX APPELLATE TRIBUNAL, KOLKATA BENCHES, KOLKATA LAHA/SR. P.S.