ACIT Corporate Circle 3(1), CHENNAI V. Tamilnadu Warehousing Corporation Ltd., CHENNAI

ITA 2042/CHNY/2017

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 7899 (ITAT-CHENNAI)
• Duration Of Justice: 1 year(s) 25 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 18-09-2018
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2006-2007
• Appeal Filed On: 23-08-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: V NANDA KUMAR
• Assessee Lawyers: M VISWANATHAN
• Keywords: Tax effect
• Section: 143(3)

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL , B BENCH, CHENNAI . , . , BEFORE SHRI A.MOHAN ALANKAMONY, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER ./ I.T.A.NO.2042/CHNY/2017 ( / ASSESSMENT YEAR: 2006-07) THE ASST. COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 3(1), CHENNAI. VS M/S. TAMILNADU WAREHOUSING CORPORATION LTD., NO.82, ANNA SALAI, GUINDY, CHENNAI 600 032. PAN: AAACT2474Q ( /APPELLANT) ( /RESPONDENT) & C.O. NO.149/CHNY/2017 ( IN ITA NO. 2042/CHNY/2017 ) M/S. TAMILNADU WAREHOUSING CORPORATION LTD., NO.82, ANNA SALAI, GUINDY, CHENNAI 600 032. VS THE ASST. COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 3(1), CHENNAI. PAN: AAACT2474Q ( /APPELLANT) ( /RESPONDENT) /REVENUE BY : SHRI V. NANDAKUMAR, JCIT /ASSESSEE BY : SHRI M. VISWANATHAN, CA /DATE OF HEARING : 18.09.2018 /DATE OF PRONOUNCEMENT : 18.09.2018 / O R D E R PER BENCH:- THE APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER PASSED BY THE LEARNED COMMISSIONER OF INCOME TAX (APPEALS)- 11, CHENNAI DATED 22.05.2017 IN ITA NO.78/2014-15/CIT(A)-11 FOR THE ASSESSMENT YEAR 2006-07 PASSED U/S.250(6) R.W.S. 143(3) & 2 ITA NO.2042 /CHNY /2017 & CO NO.149 /CHNY/2017 147 OF THE ACT. THE ASSESSEE HAS ALSO RAISED CROSS OBJECTION IN SUPPORT OF THE ORDER OF THE LD.CIT(A) SUPRA. 2. AT THE OUTSET, THE LD.AR SUBMITTED BEFORE US THAT THE ABOVE MENTIONED APPEAL IS NOT MAINTAINABLE DUE TO THE LATEST CIRCULAR NO.3/2018 DATED 11.07.2018 ISSUED BY THE CBDT WITH RESPECT TO MONETARY LIMIT. HENCE, IT WAS PLEADED THAT THE APPEAL OF THE REVENUE MAY BE DISMISSED. THE LD. DR COULD NOT CONTROVERT TO THE SUBMISSION OF THE LD.AR. 3. AFTER HEARING BOTH SIDES WE FIND MERIT IN THE SUBMISSION OF THE LD.AR. T HE CBDT IN ITS LATEST CIRCULAR NO.3/2018 DATED 11.07.2018 HAD FIXED THE MONETARY TAX EFFECT AS RS.20 LAKHS FOR FILING APPEAL BEFORE THE TRIBUNAL . FURTHER, IT IS APPARENT FROM THE ORDERS OF THE LD.REVENUE AUTHORITIES THAT IN THE CASE OF THE ASSESSEE, TAX EFFECT IS BELOW RS.20 LAKHS WHICH IS ALSO CONCEDED BY THE LD.DR. HENCE DUE TO THE INSTRUCTIONS ISSUED BY THE CBDT VIDE ITS CIRCULAR MENTIONED HEREIN ABOVE, WE HEREBY HOLD THAT THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND ACCORDINGLY THE APPEAL OF THE REVENUE IS DISMISSED. 3 ITA NO.2042 /CHNY /2017 & CO NO.149 /CHNY/2017 4. SINCE WE HAVE DISMISSED THE APPEAL FILED BY THE REVENUE ON MONETARY LIMITS, THE CROSS OBJECTION FILED BY THE ASSESSEE HAS BECOME INFRUCTUOUS. 5. IN THE RESULT THE APPEAL FILED BY THE REVENUE AS WELL AS THE CROSS OBJECTION FILED BY THE ASSESSEE ARE DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 18 TH SEPTEMBER, 2018 AT CHENNAI. SD/- SD/- ( . ) ( . ) ( DUVVURU RL REDDY ) ( A. MOHAN ALANKAMONY ) /JUDICIAL MEMBER / ACCOUNTANT MEMBER /CHENNAI, /DATED 18 TH SEPTEMBER, 2018 RSR /COPY TO: 1. /APPELLANT 2. /RESPONDENT 3. ( )/CIT(A) 4. /CIT 5. /DR 6. /GF