DCIT, Madurai V. Tirupathy Yarn Tex Spinners Private Ltd., Rajapalayam

ITA 2165/CHNY/2015

• Counselvise Citation: [2016] 132 COUNSELVISE.COM (IT) 9222 (ITAT-CHENNAI)
• Duration Of Justice: 6 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-05-2016
• Appeal Filed By: Department
• Bench Allotted: C
• Next Hearing Date: 30-05-2016
• Assessment Year: 2011-2012
• Appeal Filed On: 18-11-2015
• Court: TRIBUNAL
• Department Lawyers: A V SREEKANTH
• Keywords: Tax effect; Condonation of delay
• Section: 115JB

Judgement Text

, , IN THE INCOME - TAX APPELLATE TRIBUNAL C BENCH, CHENNAI , . , BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER & SHRI DUVVURU RL REDDY , JUDICIAL MEMBER ./ I.T.A.NO. 2165/MDS/2015 / ASSESSMENT YEAR :20 11 - 12 THE DEPUTY COMMISSIONER OF INCOME TAX, CORPORATE CIRCLE 2, MADURAI. VS. M/S. TIRUPATHY YARN TEX SPINNERS PRIVATE LIMITED, D.NO. 78, COTTON MARKET, RAJAPALA YAM 626 117. [PAN: A AACT9072E ] ( / APPELLANT ) ( / RESPONDENT ) / APPELLANT BY : SHRI A.V. SREEKANTH , J CIT / RESPONDENT BY : NONE / DATE OF HEARING : 3 0 . 0 5 .201 6 / DATE OF P RONOUNCEMENT : 31 . 0 5 .201 6 / O R D E R PER DUVVURU RL REDDY , JUDICIAL MEMBER : THIS APPEAL FILED BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) 1 , C HENNAI DATED 04 . 0 8 .201 5 RELEVANT TO THE ASSESSMENT YEAR 20 11 - 12 . 2. AT THE TIME OF HEARING, THE BENCH HAS NOTICED THAT THE APPEAL IS FILED LATE BY ONE DAY IN FILING THE APPEAL BEFORE THE TRIBUNAL. MOREOVER, THE REVENUE HAS NOT FILED ANY PETITION FOR CONDONATION OF DELAY IN FILING THE A PPEAL. THE LD. DR HAS ALSO FAIRLY AGREED FOR NON - FILING OF PETITION FOR CONDONATION OF DELAY IN FILING THE APPEAL. I.T.A. NO . 2165 /M/ 1 5 2 IN VIEW OF THE ABOVE, THE APPEAL FILED BY THE REVENUE IS NOT MAINTAINABLE AND LIABLE TO BE DISMISSED. 3. ON MERITS, THERE IS NO REPRESENTA TION FROM THE ASSESSEE S SIDE AND UNDER NORMAL PROVISION OF THE ACT, THE TOTAL TAXABLE INCOME OF THE ASSESSEE IS NIL AFTER SETTING OFF OF BROUGHT FORWARD LOSSES FOR EARLIER ASSESSMENT YEARS AS COMPUTED BY THE ASSESSING OFFICER. THE COMPUTATION OF BOOK PROF IT UNDER SECTION 115JB OF THE ACT WAS .5,97,686/ - . THEREFORE, THE BENCH HAS OBSERVED THAT THE TAX EFFECT IN THE APPEAL FILED BY THE REVENUE IS LESS THAN THE MONETARY LIMIT OF .10,00,000/ - FIXED BY THE CBDT TO FILE AN APPEAL BY THE REVENUE BEFORE THE TRIBUNAL AS PER THE CBDT CIRCULAR NO. 21/2 015, DATED 10.12.2015. THE LD. DR FAIRLY CONCEDED THAT THERE IS LESS TAX EFFECT. BEING SO, THE REVENUE AUTHORITIES ARE PRECLUDED FROM FILING THE APPEAL BEFORE THE TRIBUNAL, SINCE THE TAX EFFECT IS LESS THAN .10,00,000/ - IN THIS APPEAL. ACCORDINGLY, THE AP PEAL FILED BY THE REVENUE IS DISMISSED AS UN - ADMITTED ON BOTH COUNTS . 4 . IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED ON THE 31 ST MAY , 20 16 AT CHENNAI. SD/ - SD/ - ( CHANDRA POOJARI ) ACCOUNTANT MEMBER ( DUVVURU RL REDDY ) J UDICIAL MEMBER CHENNAI, DATED, THE 31 . 0 5 .201 6 VM/ - I.T.A. NO . 2165 /M/ 1 5 3 / COPY TO: 1. / APPELLANT , 2. / RESPONDENT , 3. ( ) / CIT(A) , 4. / CIT , 5. / DR & 6. / GF.