ACIT, New Delhi V. Ms. Cosmos Internatinal, New Delhi

ITA 2166/DEL/2014

• Counselvise Citation: [2016] 121 COUNSELVISE.COM (IT) 4088 (ITAT-DELHI)
• Duration Of Justice: 2 year(s) 4 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 16-08-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 16-08-2016
• Assessment Year: 2004-2005
• Appeal Filed On: 11-04-2014
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Retrospective amendment; Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCHES : B : NEW DELHI BEFORE SHRI R.S. SYAL, AM & SHRI N.K. CHOUDHRY, JM ITA NO.2166/DEL/2014 ASSESSMENT YEAR : 2004-05 ACIT, CIRCLE-32(1), NEW DELHI . VS. COSMOS INTERNATIONAL, 1, ARADHANA COLONY, SECTOR-14, R.K. PURAM, NEW DELHI. PAN: AAAFC6359A ASSESSEE BY : SHRI VED JAIN , CA & SHRI ASHISH GOEL, CA DEPTT. BY : SHRI ANIL KUMAR SHARMA, SR. DR DATE OF HEARING : 16.08.2016 DATE OF PRONOUNCEMENT : 16.08.2016 ORDER PER R.S. SYAL, AM: THIS APPEAL BY THE REVENUE ARISES OUT OF THE ORDER PASSED BY THE CIT(A) ON 22.01.2014 IN RELATION TO THE ASSE SSMENT YEAR 2004-05. ITA NO.2166/DEL/2014 2 2. DURING THE COURSE OF HEARING, THE LD. AR SUBMITT ED THAT PURSUANT TO THE MANDATE OF SECTION 268A, THE CBDT H AS ISSUED CIRCULAR NO. 21 OF 2015 DATED 10.12.2015 WITH RETRO SPECTIVE EFFECT, REVISING THE MONETARY LIMIT TO RS.10,00,000 /- FOR NOT FILING APPEALS BEFORE THE TRIBUNAL. HE FURTHER SUB MITTED THAT AS THE TAX EFFECT INVOLVED IN THE INSTANT APPEAL IS LESS THAN RS.10,00,000/-, THE EXTANT APPEAL IS NOT MAINTAINAB LE. THE LD. D.R., ALTHOUGH SUPPORTED THE ORDER OF THE ASSESSING OFFICER, BUT COULD NOT CONTROVERT THE FACT THAT TAX EFFECT I NVOLVED IN THIS APPEAL IS LESS THAN RS.10,00,000/-. 3. WE HAVE HEARD THE PARTIES AND PERUSED THE RELEVA NT MATERIAL ON RECORD. GOING BY THE PRESCRIPTION OF TH E AFORENOTED CIRCULAR, WE ARE OF THE VIEW THAT THE REVENUE SHOUL D HAVE EITHER NOT FILED THE INSTANT APPEAL BEFORE THE TRIB UNAL OR WITHDRAWN THE SAME AS THE TAX EFFECT IN THIS APPEAL IS ADMITTEDLY LESS THAN THE PRESCRIBED LIMIT FOR NOT F ILING THE APPEALS. FROM PARA 10 OF THE ABOVE CIRCULAR IT IS PALPABLE THAT ITA NO.2166/DEL/2014 3 THE INSTRUCTION IS APPLICABLE TO THE PENDING APPEAL S ALSO WITH RETROSPECTIVE EFFECT AND THERE IS A CLEAR-CUT DIREC TION TO THE DEPARTMENT TO WITHDRAW OR NOT PRESS SUCH APPEALS FI LED BEFORE THE ITAT WHEREIN TAX EFFECT IS LESS THAN RS.10,00,0 00/-. EX CONSEQEUNTI WE DISMISS THE INSTANT APPEAL WITHOUT GOING INTO MERITS OF THE CASE. 4. IN THE RESULT, THE APPEAL OF THE REVENUE STANDS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 16.08.2016. SD/- SD/- [N.K. CHOUDHRY] [R.S. SYAL] JUDICIAL MEMBER ACCOUNTANT MEMBER DATED, 16 TH AUGUST, 2016. DK COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT (A) 5. DR, ITAT AR, ITAT, NEW DELHI.