Assistant Commissioner of Income-tax, Circle - 9, Pune V. M/s. Jayashree Polymers Pvt.Ltd, Pune

ITA 2157/PUN/2017

• Counselvise Citation: [2019] 115 COUNSELVISE.COM (IT) 9243 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-09-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2012-2013
• Appeal Filed On: 14-09-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHRI
• Keywords: Tax effect
• Section: 80IA; 201

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL B BENCH, PUNE BEFORE SHRI R.S. SYAL, VICE PRESIDENT AND SHRI S.S. VISWANETHRA RAVI, J UDICIAL MEMBER . / ITA NO . 2157 /PUN/201 7 / ASSESSMENT YEAR : 201 2 - 13 THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 9 , PUNE ....... / APPELLANT / V/S. M/S. JAYASHREE POLYMERS PVT. LTD., 21/4, D - 1 BLOCK, MIDC, CHINCHWAD, PUNE 19 PAN : AAACJ4677K / RESPONDENT ASSESSEE BY : MS. DIKSHA AGARWAL REVENUE BY : SHRI PANKAJ GARG / DATE OF HEARING : 1 7 - 09 - 2019 / DATE OF PRONOUNCEMENT : 19 - 09 - 2019 / ORDER PER S.S. VISWANETHRA RAVI, JM : THIS APPEAL BY THE REVENUE AGAINST THE ORDER DATED 22 - 05 - 2017 PASSED BY THE COMMISSIONER OF INCOME TAX (APPEALS) - 6 , PUNE FOR ASSESSMENT YEAR 201 2 - 13. 2 ITA NO. 2157/PUN/2017, A.Y. 2012 - 13 2. THE LD. AR, MS. DIKSHA AGARWAL SUBMITTED AT THE OUTSET THAT THE APPEAL OF REVENUE IS LIABLE TO BE DISMISSED ON ACCOUNT OF LOW TAX EFFECT IN TERMS OF RECENT CBDT CI RCULAR NO. 17/2019, DATED 08 - 08 - 2019. THE LD. AR SUBMITTED THAT THE DEPARTMENT IN APPEAL ASSAILING THE FINDINGS OF COMMISSIONER OF INCOME TAX (APPEALS) IN ALLOWING DEDUCTION U/S. 80IA OF THE ACT TO AN EXTENT OF RS.53,50,487/ - . 3. THE LD. DR, SHRI PAN KAJ GARG FAIRLY ADMITTED THAT IN THE PRESENT APPEAL BY THE DEPARTMENT TAX EFFECT IS LESS THAN RS.50 LAKHS. 4. HEARD BOTH PARTIES AND PERUSED THE MATERIALS AVAILABLE ON RECORD. THE LD. AR SUBMITTED THAT THE DEPARTMENT IN APPEAL HAS ASSAILING THE FINDINGS OF COMMISSIONER OF INCOME TAX (APPEALS) IN ALLOWING DEDUCTION U/S. 80IA OF THE ACT IGNORING THE SPECIFIC PROVISIONS OF SECTION 80IA(5) OF THE ACT. UNDISPUTEDLY, THE TAX EFFECT INVOLVED IN APPEAL IS LESS THAN THE MONETARY LIMIT PRESCRIBED BY THE RECENT CB DT CIRCULAR NO. 17/2019, DATED 08 - 08 - 2019 FOR FILING OF APPEALS BEFORE THE TRIBUNAL BY THE DEPARTMENT. THE CBDT VIDE CIRCULAR DATED 08 - 08 - 2019 (SUPRA) HAS AMENDED PARA 3 OF CIRCULAR NO. 3 OF 2018 DATED 11 - 07 - 2018 THEREBY ENHANCING MONETARY LIMIT OF TAX EFF ECT FROM RS.20 LAKHS TO RS.50 LAKHS FOR FILING OF APPEALS BY THE DEPARTMENT BEFORE THE TRIBUNAL. THUS, WITHOUT GOING INTO MERIT OF THE ISSUES RAISED IN THE APPEAL, IN VIEW OF THE CBDT CIRCULAR (SUPRA) THE PRESENT APPEAL OF THE REVENUE IS DISMISSED ON ACCO UNT OF LOW TAX EFFECT. 5. BEFORE PARTING, WE CLARIFY HERE THAT THE REVENUE SHALL BE AT LIBERTY TO APPROACH THE TRIBUNAL FOR RESTORATION OF APPEAL, WITH THE REQUISITE MATERIAL 3 ITA NO. 2157/PUN/2017, A.Y. 2012 - 13 TO SHOW THAT THE APPEAL IS PROTECTED BY THE EXCEPTIONS PRESCRIBED IN PARA 10 O F THE CIRCULAR DATED 11 - 07 - 2018 AND ITS AMENDMENT DATED 20 - 08 - 2018. 6. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 19 TH SEPTEMBER, 2019. SD/ - SD/ - ( R.S. SYAL ) ( S.S. VISWANETHRA RAVI ) VICE PRESIDENT JUDICIAL MEMBER / PUNE; / DATED : 19 TH SEPTEMBER, 2019 RK / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 6 , PUNE 4. THE PR. COMMISSIONER OF INCOME TAX - 5 , PUNE 5. , , , / DR, ITAT, B BENCH, PUNE. 6. / GUARD FILE. // // TRUE COPY// / BY ORDER, / PRIVATE SECRETARY, , / ITAT, PUNE